Sen. Todd Young (Ind.), the Republican senator who drafted the legislation that became the foundation of the CHIPS and Science Act, said the law was never intended to let the federal government take a major stake in Intel or any other major company.

“For those of us who voted for the legislation, I don’t know of anyone who thought this was allowed under the law,” he said when asked about President Trump’s deal to take a 10 percent stake in Intel in exchange for the roughly $11 billion in federal subsidies the company has received.

The legislation provided federal subsidies to domestic semiconductor manufacturers, part of a push to protect the domestic industry.

Trump has argued it is right for the government to get a stake in Intel given the subsidies that were provided to business through the legislation.

But Young said those voting for the bill would not have anticipated the government taking stakes in companies.

“There are clear concerns about........

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