Friday, February 3, 2023

Biden will visit the site of Future Chip Factory in Arizona

President Joe Biden will visit the site of a microprocessor factory in Arizona on Tuesday to emphasize how his policies are increasing jobs, in what could be a challenge to an incoming Republican majority in the House of Representatives.

Biden has built his legacy in large part on technology and infrastructure investments that have been approved by bipartisan majorities. The $52 billion investment in semiconductors and $200 billion in scientific research, the president has said, will create manufacturing jobs and provide an economic boost to the middle class.

“It’s really about building an economic strategy that goes beyond semiconductors,” said Brian Dees, director of the White House National Economic Council. “It marks a departure from the economic philosophy that has dominated much of the last 40 years, in which the prosperity of the few should benefit those at the bottom.”

However, there are signs that bipartisanship on economic issues may not prosper after the November midterm elections, in which Republicans won a majority in the House. Biden insists the investment shows what can be accomplished when the parties cooperate, but Republican Kevin McCarthy, who is slated to become the next House leader, said in July that the investment was “a blank check”. and is nothing more than a “corporate subsidy”.

Biden will visit the future site of a Taiwanese semiconductor manufacturing company’s factory, which was announced for construction in 2020 during Donald Trump’s tenure. TSMC will also announce the construction of a second factory in Arizona on Tuesday. Government officials say the two factories — along with Intel, Micron, Wolfspeed and others — could give the United States a military and economic advantage as competition from China heats up.

Nation World News Desk
Nation World News Desk
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