Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Egyptian media, citing medical sources: Ambulances transported about 100 injuries to hospitals as a result of the Ismailia Security Directorate fire
Egyptian media: The number of people injured in the Ismailia Security Directorate fire has risen to 21 people, some of whom are in critical condition.
Turkey carried out air strikes in northern Iraq and destroyed 20 PKK targets: Turkish MoD
Al Mayadeen's correspondent: Turkish warplanes carry out an air strike that targeted the Matin area in Dohuk, northern Iraq
Israeli media: The settlers wrote the word “revenge” in the site and uprooted dozens of olive trees
Israeli media: Settlers set ablaze a farm in the town of Deir Dibwan in the West Bank
Kurdistan Workers' Party (PKK) claims responsibility for Ankara attack
British Defense Minister Grant Shapps: We are deploying RAF Typhoons to Poland
British Defense Minister Grant Shapps announces a 4 billion pound ($4.9 billion) deal to build attack submarines
Turkish President Recep Tayyip Erdogan: We have waited 60 years at the doorstep of the European Union. We are no longer waiting.

Biden begs Congress to pass $52 billion semiconductor bill

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Jul 2022 09:33
  • x

President Biden urged Congress to enact a $52 billion payout to semiconductor manufacturers.

  • Biden begs Congress to pass $52 billion semiconductor bill.
    Biden begs Congress to pass $52 billion semiconductor bill.

President Biden pushed Congress to pass a $52 billion payout to semiconductor manufacturers on Monday, as lawmakers face a make-or-break week in order to pass the bill.

For weeks, the White House has been pressing senators to drop a slew of tough-on-China measures in order to get the widely supported CHIPS Act to his desk before industry heavyweights take their money elsewhere.

“Congress must pass this bill as soon as possible,” Biden said Monday during a virtual roundtable with CEOs and cabinet leaders who spoke of the economic and national security imperative of getting the bill through.

“Listen to the business leaders here today and across the country,” he said. “They’re making decisions right now about where to invest and ramp up production of these semiconductors. Are they going to invest in China, India, Japan, South Korea, and the European Union? The United States has to lead the world in the production of these chips.”

Related News

Biden signs 45-day spending bill averting government shutdown

White House launches countdown for possible govt shutdown

The bipartisan bill, dubbed "Chips-plus", includes more than $50 billion in semiconductor manufacturing funding over the next five years, as well as a 25% tax credit for new chip production through 2026.

This comes after Speaker Nancy Pelosi revealed that the US Senate was prepared to review a semiconductor chips bill with the aim to help raise American competitiveness.  

The Senate voted by a large margin to start the debate on legislation to give more than $52 billion in grants to the US semiconductor industry.

"With this package, the United States returns to its status as a world leader in the manufacturing of semiconductor chips," she said in a press release, adding that this is "an economic necessity to lower costs for consumers and to win in the 21st-century economy, as well as a national security imperative as we seek to reduce our dependence on foreign manufacturers." 

Read next: US companies have few days supply of semiconductors: US govt

  • Congress
  • Washington
  • Joe Biden

Most Read

BBC from the front lines in Ukraine: It's bad, counteroffensive failed

BBC from the front lines in Ukraine: It's bad, counteroffensive failed

  • Europe
  • 28 Sep 2023
Who Would Ally with the West: ‘It’s Boring – The Real Excitement is in Asia’

Who Would Ally with the West: ‘It’s Boring – The Real Excitement is in Asia’

  • Analysis
  • 30 Sep 2023
US President Joe Biden and Ukrainian President Volodymyr Zelensky

'Not 1 more cent': Americans are done with funding Ukraine's paychecks

  • Europe
  • 30 Sep 2023
Kiev forces continue to deliberately target journalists

Kiev forces continue to deliberately target journalists

  • Europe
  • 29 Sep 2023

Coverage

All
Morocco & Libya Disasters

Read Next

All
tusk
Europe

Polish opposition leader Donald Tusk leads million-man rally in Warsaw

Eastern Libyan authorities postpone reconstruction meeting for Derna.
MENA

Libyan authorities postpone reconstruction conference for Derna

Saudi Arabia to record fiscal deficit in 2023, blaming falling oil revenues.
MENA

Saudi Arabia to record fiscal deficit in 2023; oil revenues to blame

McCarthy
US & Canada

Leading hardline Republican says will move to oust McCarthy

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS