President Joe Biden began what is expected to be a week filled with celebrations in the halls of the West Wing with the signing of a bill that will make the CHIPS and Science Act the law of the land.
This piece of legislation is a bipartisan piece of legislation that will inject approximately $50 billion into the United States semiconductor industry.
Mr. Biden made his first appearance in front of a large audience at the celebration that was held on the South Lawn of the White House.
This came after he had spent the previous week in isolation due to a relapse of his covid infection.
He was joined by many of the House and Senate members who shepherded the legislation, which was meant to boost the United States’
competitiveness vis-à-vis China by onshoring the manufacture of semiconductors that go into cars, computers, mobile phones, and other types of devices, through Congress.
He was joined by many of the House and Senate members who shepherded the legislation through Congress.
Mr. Biden referred to the law as a “once in a generation investment in America itself,” and he stated that the monies that it disburses would help drive inflation down by cutting the costs for manufactured products that depend on semiconductors.
He stated that the production of these chips should take place in the United States in order to reduce the overall cost of living and to generate employment opportunities.
Mr. Biden continued by saying that the investment in chip manufacturing will be seen by industry executives as a statement that “America is back.”
He went on to say that chip fabrication being brought back to the United States would be beneficial to the country’s national defence because it would shorten the supply chain for key components used in weaponry systems like the Javelin anti-tank missiles.
He also mentioned that the government of China had actively lobbied against the bill.
The United States of America ought to take the lead in the development of these cutting-edge chips on a global scale. “That is precisely what this bill will do,” he stated.
This week, Mr. Biden will be attending and participating in a number of joyful ceremonies, the first of which will be the signing of the CHIPS and Science Act.
On Tuesday, Mr. Biden will also put his signature on the paperwork that gives American approval to Finland and Sweden’s application to become the 31st and 32nd members of NATO.
On Wednesday, Mr. Biden will sign the Honouring Our PACT Act into law, which authorises even more funds to treat US military veterans who were exposed to toxic substances during their service in the armed forces.
Inflation Reduction Act, which will authorise the largest-ever US investment in stopping the climate crisis and fulfil a major promise from his 2020 campaign by reducing US greenhouse emissions by 40 percent, is expected to be ready for the president’s signature very soon.
The president is also expected to be able to sign the Inflation Reduction Act very soon.
Read more:-
- Prediction and Odds for the Match Between Liverpool and Crystal Palace: the Predictions of an Expert for the English Premier League on August 15th, 2022
- Taxes? Audits? How Will IRS Funding Affect You?
- Trump’s Lawyer Said Mar-A-Lago Has No Secrets
He said, “I’m confident that decades from now, people will look back at this week with all that we passed and all that we moved on, that we met the moment at this inflection point in history.”
“I’m confident that decades from now, people will look back at this week with all that we passed and all that we moved on.”
“A moment when we bet on ourselves, trusted in ourselves, and reclaimed the tale, the spirit, and the soul of our nation.”
“A moment when we believed in ourselves.”
