"The future is going to be made in America," Biden said, calling the measure"a once-in-a-generation investment in America itself."
The chief executives of Micron, Intel, Lockheed Martin, HP and Advanced Micro Devices attended the signing as did governors of Pennsylvania and Illinois, the mayors of Detroit, Cleveland and Salt Lake City, and lawmakers. Progressives argued the bill is a giveaway to profitable chips companies that previously closed US plants, but Biden argued Tuesday"this law is not handing out blank checks to companies."
The legislation authorizes $200 billion over 10 years to boost US scientific research to better compete with China. Congress would still need to pass separate appropriations legislation to fund those investments.