President Joe Biden is signing the CHIPS and Science Act today. This piece of legislation is meant to invest in the manufacturing of semiconductors in the United States, which in turn could alleviate the supply issues with video game consoles.

According to the House Science, Space, and Technology Committee's website, the CHIPS and Science Act will increase the production of American-made semiconductors in order to tackle the country's supply chain vulnerabilities.

"This legislation represents months of bipartisan and bicameral negotiations. The majority of this bill is made up of bipartisan provisions that started in the House Committee on Science, Space, and Technology—which I am privileged to lead," says Science, Space, and Technology Committee Chairwoman Eddie Bernice Johnson.