At Tuesday’s meeting, which saw the cabinet meet for the first time since March, his administration announced legislation passed over the summer, including climate, health and tax bills aimed at boosting domestic semiconductor production. It is held when you are showing a move to implement.
“This afternoon, the President will direct his Cabinet to expedite the legislation he signed into force to make America more profitable, reduce costs for families, and create better-paying jobs. CHIPS and The Science Act, the Bipartisan Infrastructure Act, the Clean Energy Tax Credit, and the Inflation Reduction Act will incentivize manufacturing investment,” a White House official said.
After the Supreme Court overturned Roe v. Wade in June, the official said Biden “will also receive an update on the government’s response to Dobbs’ decision and the protection of reproductive rights.” The president has taken a series of administrative actions, but additional options are limited as the White House urges Congress to codify a groundbreaking abortion decision. I don’t have 60 votes.
Biden has increased his campaign coverage outside Washington in recent days, as he made three trips to the battleground state of Pennsylvania in the past week, in addition to his Labor Day trip to Wisconsin. , summoning senior officials to the White House. With his final nine-week sprint to the midterms in full swing, Biden embraces in-person political activism and touts his successes while framing the 2022 election as a policy choice for the Democratic Party. We call Republicans “extremes” because they are trying. And former President Donald Trump’s threat to democracy.
It’s a strategy that emerged when the Biden administration got wind of the wind following a flurry of positive headlines this summer. In addition to the Semiconductor Chip Bill, the Climate, Tax and Infrastructure Act, Congress has voted to increase the protection of veterans exposed to toxic burns during military service, as well as the Uvalde, Texas case. passed gun safety laws. , taken at school. Gas prices also eased somewhat from record highs in June.
The meeting comes as the administration outlines the implementation plan for the CHIPS bill, detailing key goals before the $50 billion program’s application opens early next year.
Guidance on how to apply for the program will be published “by early February 2023,” and awards and loans will be offered “on a rolling basis” next year.
About $28 billion of the money will be used for domestic chip production, according to the Commerce Department, which will be used for “subsidies or cooperation agreements or subsidies for loans or loan guarantees.”
The $10 billion investment will also help boost the capabilities of other “mature current generation chips, new expertise and semiconductor industry suppliers.”
The government will also spend $11 billion on research and development initiatives. This includes the “National Center for Semiconductor Technology, the National Advanced Packaging Manufacturing Program, up to three new US manufacturing laboratories, and the NIST Metrology Research and Development Program.”