Outgoing Commerce Secretary Gina Raimondo is hoping to commit $50 billion in its microchip-subsidy program before President-elect Donald Trump returns to the White House in January, Politico reported.

“I’d like to have really almost all of the money obligated by the time we leave,” Raimondo told Politico. “That’s the goal, and I certainly want to have all the major announcements done as it relates to the big, leading-edge companies.”

During the Biden administration, Congress allocated $50 billion in subsidies for semiconductor manufacturing and research and development, but only two companies have received binding awards from the Department of Commerce’s manufacturing program, Politico reported.

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