Biden signs law to restart US semiconductor production

Biden signs law to restart US semiconductor production

UPDATE DAY

WASHINGTON | US President Joe Biden on Tuesday signed legislation that releases $52 billion in subsidies to restart US semiconductor production. 

The Democrat assured that this investment in these parts at the heart of modern electronics would help his country win “economic competition in the 21st century”.

The text, adopted at the end of July by Congress, also provides tens of billions of dollars for research and development.

The passage of this law represents for Joe Biden a victory after a long battle and good news in the run-up to the mid-term elections. mandate.

The law “amplifies our efforts to manufacture semiconductors here in America,” Joe Biden said, praising the entrepreneurs, who are “the reason I'm optimistic about the future of our country.”

< p>This investment plan “will reduce the costs of daily living, create well-paid industrial jobs in the country and strengthen the leadership position of the United States in the industry of the future”, had commented the president in a communicated after the vote in Congress.

Demand for semiconductors has exploded during the pandemic, causing global shortages further exacerbated by the closure of Chinese factories in the face of resurgences of Covid.

The United States, whose share in the World production has fallen sharply in recent years to the benefit of Asia, which have suffered from these shortages. This notably slowed the production of new cars last year, driving up prices in the automobile industry.

On Wednesday, Joe Biden will sign a law aimed at improving the care of American veterans exposed to fumes toxins emanating from braziers on military bases.

According to the White House, this commitment to supporting the high-tech industry is already attracting private funds, with some $50 billion invested in semiconductors. Micron notably announced on Tuesday a plan of 40 billion dollars in the United States.

This investment will be partly financed by the subsidies and tax credits provided for by the law signed by Joe Biden.

The signing of the text is “a historic investment in the future of America”, rejoiced the vice-president of the Chamber of Commerce, Neil Bradley.

“It will boost the production of microchips in the country, strengthen supply chains, increase research and development and strengthen our national security.”

He is also expected to enact a comprehensive climate plan shortly and Health, passed the Senate on Sunday thanks to Democratic votes alone and is now on its way to the House of Representatives for a final vote.