September 30, 2022

Biden Signs Industrial Policy Bill Aimed at Bolstering Competition With China

“We will bring these jobs back to our shores and end our dependence on foreign chips,” said Senator Chuck Schumer, Democrat of New York and the majority leader, who pumped his fists as he stepped toward the lectern.


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Mr. Schumer, who helped spearhead the measure, at one point hinted at the yearslong quest to secure its passage when he noted that it had once been called the Endless Frontier Act — one of a handful of names for the bill as it made its way through Congress.

“I still love that name,” Mr. Schumer said.

“I’ve always said that Democrats would be ready to work with Republicans when possible,” he added. “And at today’s signing, we celebrate such an accomplishment.”

Democrats are hoping that the passage of the industrial policy legislation and a few other notable bills, along with falling gas prices, can help drive a turnaround for the party ahead of the midterm congressional elections in November. Democrats have faced a bleak outlook heading into the fall, with Mr. Biden suffering from dismal approval numbers amid soaring inflation and painful prices at the pump.

Mr. Biden is planning to sign a bill on Wednesday that would expand medical care for veterans exposed to toxic burn pits on military bases, another measure that Congress approved with bipartisan support. And on Friday, the House is expected to pass the climate, health and tax bill that cleared the Senate over the weekend, handing the president a legislative triumph that he and Democratic candidates can highlight in the weeks to come.

The effort to promote the recent series of victories comes after Mr. Biden was forced to isolate during a bout with Covid-19, followed by a rebound case. He left isolation on Sunday and then traveled on Monday to meet with survivors of the severe flooding in Kentucky, his first work trip since testing positive for the virus on July 21.

Article source: https://www.nytimes.com/2022/08/09/us/politics/biden-semiconductor-chips-china.html

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