Biden admin Commerce Dept seeks to exhaust CHIPS Act funding before Biden leaves office

The Commerce Department is pushing to spend every dollar allocated under President Biden's CHIPS and Science Act before President-elect Donald Trump enters the White House, the agency's Secretary Gina Raimondo said during an interview this week. 

"That's the goal. And I certainly want to have all the major announcements done as it relates to the big leading edge companies," Raimondo said. "I also would like to have all of that research and development money out the door by the time we leave as well."

Raimondo told Politico that she has been pushing her staff at the department hard to make these goals a reality, noting they worked all last weekend to shore up the spending. 

The Department of Commerce did not provide Fox News Digital with any on-the-record comments prior to publication of this story.