AUGUST 9, 2022:
WASHINGTON (AP) — President Joe Biden has signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing. The measure is part of his administration’s push to boost U.S. competitiveness over China. The Tuesday morning (Aug. 9, 20220 signing ceremony in the Rose Garden ceremony comes as Biden looks to highlight a new law that will incentivize investments in the American semiconductor industry. The aim is to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods. The White House says Micron is announcing a $40 billion plan to boost domestic manufacturing of memory chips. Qualcomm and GlobalFoundries are announcing a $4.2 billion expansion of an upstate New York chip plant.
JULY 28, 2022:
WASHINGTON (AP) — The House has passed a $280 billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and help it better compete with international rivals, namely China. The House approved the bill by a solid margin of 243-187. The measure now goes to President Joe Biden to be signed into law, and it provides the White House with a major domestic policy victory. The GOP leadership in the House recommended a vote against the bill, arguing the semiconductor industry didn’t need “government handouts.” But some GOP lawmakers viewed passing the legislation as important for national security.
JULY 27, 2022:
WASHINGTON (AP) — The Senate has passed a bill that’s designed to encourage more semiconductor companies to build chip plants in the United States. The $280 billion measure, which awaits a House vote, includes federal grants and tax breaks for companies that construct their chip facilities in the U.S. It also directs Congress to significantly increase spending on high-tech research programs that lawmakers say will help the country stay economically competitive in the decades ahead. Senate passage came by a 64-33 vote Wednesday (July 27, 2022). The House vote is expected later this week as lawmakers try to wrap up business before returning to their home states and districts in August.
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