Next week Vice President Joe Biden will be in Michigan to talk about a bill that was just recently approved that grants billions to encourage the manufacturing of semiconductors in the United States.
The White House has announced that Vice President Biden would deliver an address regarding the CHIPS and Science Act on Tuesday, August 2 in Hemlock, which is located in Saginaw County.
The package totalling 280 billion dollars was approved by the U.S. This week, the House and Senate participated in a bipartisan attempt to compete with manufacturers of semiconductor chips located overseas.
It provides tax breaks and other benefits totalling $52 billion for domestic development and production of semiconductors.
Included in this package is a sum of $2 billion that has been set aside as an incentive for the manufacturing of “mature node” semiconductors, which are utilised by automakers and component suppliers.
Amid the COVID-19 epidemic, there was a scarcity of semiconductors, which slowed down the production of vehicles and put further strain on the robust manufacturing sector in the United States.
The United States government has given its blessing to the package, which will cost a total of 280 billion dollars.
This week, both the House of Representatives and the Senate took part in a bipartisan effort to compete with semiconductor chip manufacturers that are based in other countries.
To foster domestic innovation and manufacturing of semiconductors, it grants tax incentives and other perks with a combined value of $52 billion.
Included in this package is a sum of two billion dollars that has been reserved as an incentive for the manufacturing of “mature node” semiconductors.
These semiconductors are used by automakers and component suppliers, and the incentive has been set aside as part of this package.
Hemlock Semiconductor, a firm that generates polysilicon for use in the fabrication of semiconductors, has its headquarters in Hemlock.
On Thursday, Governor Gretchen Whitmer rejoiced over the successful approval of the law, praising it as an opportunity for “game-changing investments” in the state’s economy.
“I cannot express how thankful I am to our congressional delegation for working cooperatively with members of both parties to get this done.
According to a statement that she released, “CHIPS+ will make investments that only come around once in a generation to help set the stage for decades of growth in the United States by bringing vital supply chains home, creating and protecting tens of thousands of good-paying jobs, and lowering costs for families.”
Additional information regarding Biden’s visit has not been made public at this time.
This will be Vice President Biden’s sixth trip to Michigan while he is serving in that capacity.
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The visit takes place on the same day as the primary election in the state, during which voters will choose between five candidates for governor who are members of the Republican Party and also participate in local elections.
