WASHINGTON—President Biden’s expansive infrastructure proposal includes $50 billion for the American semiconductor industry, whose lobbying efforts have gained momentum amid a global chip shortage and fears that China might be overtaking the U.S. in a critical technology.
Mr. Biden’s plan released Wednesday, seeks to leverage bipartisan support on Capitol Hill to subsidize domestic manufacturing and chip research. The White House didn’t immediately respond to questions on how the $50 billion would be used.during a late-afternoon speech in Pittsburgh. It would be paid for by raising the corporate tax rate to 28% from 21% and increasing taxes on companies’ foreign earnings.
“President Biden believes we must produce, here at home, the technologies and goods that meet today’s challenges and seize tomorrow’s opportunities,” states a White House outline of the proposal, which also includes tens of billions in support for domestic manufacturing of other goods.
Plus more h1bs😉
How was he able to talk without that in his head?
Do all the demtards truly believe that they can just keep printing money forever and there will be no consequences? Or is it just the fact that no politician can see beyond the next election? Disband the Parties!
Give tax incentives for chip developers in the US watch America create it not by government spending.
More spending? Seriously? We cannot afford to keep spending
The US Government should not be in business.
The Anti-Gretzky, going where the puck used to be. industrialpolicy missteps. POTUS
Will the Republicans complain about that too, I wonder? And I don’t think $50 billion is enough, as China is probably putting a lot more than that.
THIS is how spending should be done. Focused on a glaring need, not throwing $2T on nebulous infrastructure projects.
NNDM will be in great demand
I like this!
wmiddelkoop
If they don't pay attention to the expense side of the equation, the whole house of cards will come tumbling down.
Biden will take the $50 billion 'infusion' back with much higher corporate taxes.
Biden’s plan to decrease foreign dependency is to subsidize some branches and increase taxes on the rest? How about figuring out why so many companies produce overseas?
Are there strings attached to that money, hopefully? To bring manufacturing back onto US soil?
Probably the biggest economic and national security issue facing the United States at this moment - kudos to the President for making it a priority.
我愛台灣！！
Those 50 billion would leverage x10 if invested in Mexico. A. Reduce inmigration b. Source qualified manufacturing at competitive cost / lead time c. Income Increases in Mexico - consume more USA products
That is actually a GOOD MOVE , well done if executed Joe
An infusion does nothing. Perhaps implement policy and an environment that allows such chips to be more easily manufactured here.
Cut all the government regulations destroying small businesses and the insane tax burden. You’re putting a bandaid on a massive wound
Yes, I think it is time for America to start manufacturing more products that we require here to stop relying less on China. Start trading more with other countries and encourage American companies to build factories here or in Mexico which in theory should help decrease illegals
. We need it ! .
Nice to have a POTUS who is actually interested in doing something to advance the interests of the United States, instead of just a bunch of symbolic bluster to impress a tragically misinformed base of half-witted cultists.
How?
Do it
Good idea
And, what should we do in the meantime?!