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President Biden is moving microchip production home! Boosting Biden Day 45 [1]

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Date: 2024-03-01  

One of the lessons of the COVID pandemic was that the U.S. was too reliant on microchips manufactured elsewhere.

Joe Biden is changing that.

For example, as summarized by Politico:

The administration and a bipartisan group of lawmakers coalesced around legislation that became known as the CHIPS and Science Act, which offered more than $50 billion to subsidize the construction of new microchip facilities in the U.S. and boost research and development across a series of national research facilities. After two years of debate, lawmakers passed it in July 2022 with solid bipartisan majorities. It was a remarkable endorsement of industrial policy — government support for selected industries — that U.S. lawmakers had largely shunned for decades.

As a result, ”U.S. Pours Money Into Chips,” notes the New York Times:

And these mammoth investment plans are far from the whole story.

Across the nation, more than 35 companies have pledged nearly $200 billion for manufacturing projects related to chips since the spring of 2020, according to the Semiconductor Industry Association, a trade group. The money is set to be spent in 16 states, including Texas, Arizona and New York on 23 new chip factories, the expansion of nine plants, and investments from companies supplying equipment and materials to the industry. The push is one facet of an industrial policy initiative by the Biden administration, which is dangling at least $76 billion in grants, tax credits and other subsidies to encourage domestic chip production. “I’ve never seen a tsunami like this,” said Daniel Armbrust, the former chief executive of Sematech, a now-defunct chip consortium formed in 1987 with the Defense Department and funding from member companies.

Is there still more work to be done? 100%! Lots more work. But Biden did more than many people guessed could be done. He deserves a lot of credit. AND he deserves to be re-elected.

What can you do to help?

Your donation will come bundled with others from our Good News community and will show Biden that there are many of us who support him and combine hard work with optimism in our battles for a better America!

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This is an entry in my ongoing series Boosting Biden.

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