WASHINGTON (AP) – President Joe Biden on Tuesday signed a bipartisan $280 billion bill to boost domestic high-tech manufacturing, part of his administration’s push to boost U.S. competitiveness over China .
Flanked by dozens of lawmakers, union officials, local politicians and business leaders, Biden celebrated the legislation, a key part of his economic agenda that will spur investment in America’s semiconductor industry in an effort to ease America’s reliance on United overseas supply chains for critical, cutting-edge goods.
“The future of the chip industry will be made in America,” Biden said at a sweltering Rose Garden ceremony Tuesday, referring to the tiny devices that power everything from smartphones to computers to cars. The legislation earmarks $52 billion specifically to bolster the U.S. computer chip industry.
The bill has been more than a year in the making, but it finally passed both houses of Congress late last month by significant bipartisan margins. The Senate passed it 64-33, with 17 Republican senators supporting it, while the House quickly followed suit with a 243-187 vote that included 24 House Republicans in favor, though party leaders began urging their ranks to vote against it after Democrats advanced. a separate radical bill focused on climate and health care.
The White House on Tuesday sought to begin selling the immediate impacts of the semiconductor measure, noting that Micron, a leading U.S. chipmaker, will announce a $40 billion plan to boost domestic production of memory chips, while that Qualcomm and GlobalFoundries will unveil a $4.2 billion expansion. from a chip plant in New York state.
The administration has also repeatedly portrayed this legislation as a critical component in countering the influence of a rising China and ensuring that the US can maintain a competitive edge against Beijing, particularly in semiconductor manufacturing. Administration officials have held several briefings for lawmakers to outline the national security implications of this bill, and Biden noted during remarks Tuesday that the Chinese government had pressured American companies against the legislation
“The CHIPS and Science Act will inspire a whole new generation of Americans to answer that question: What next?” Biden said Tuesday during the signing ceremony. “Decades from now, people will look back on this week and all that we’ve been through and all that we’ve moved forward, that we met the moment at this turning point in history.”
Tuesday’s ceremony is one of several public events Biden has scheduled since recovering from COVID-19, including a visit Monday to flood-ravaged Kentucky and another signing event Wednesday for legislation that helps veterans who have suffered toxic burns. But Biden appeared to be dealing with some residual symptoms, coughing heavily several times during his remarks and at one point apologizing for doing so.