Biden to sign $280B CHIPS act in bid to boost US over China

President Joe Biden is preparing to sign a $280 billion bipartisan bill to boost domestic high-tech manufacturing, part of his administration’s push to boost U.S. competitiveness over China.

The Rose Garden ceremony on Tuesday will include lawmakers, union officials, local politicians and business leaders, the White House said, as the president looks to highlight a new law that will incentivize investments in the American semiconductor industry in an effort to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods.

“We are going to invest it in America,” Biden said Friday. “We’re going to make it in America. We’re going to win the economic competition of the 21st century in America.”

The White House said Micron is announcing a $40 billion plan to boost domestic manufacturing of memory chips, and Qualcomm and GlobalFoundries are announcing a $4.2 billion expansion of an upstate New York chip plant.


Douglas Mateo

Douglas holds a position as a content writer at Neptune Pine. His academic qualifications in journalism and home science have offered her a wide base from which to line various topics. He has a proficiency in scripting articles related to the Health industry, including new findings, disease-related, or epidemic-related news. Apart from this, Douglas writes an independent blog and assists people in living healthy life.