US President Joe Biden arrives give a speech during a visit to United Performance Metals in Hamilton, Ohio May 6, 2022
Elisabeth Franz | Reuters
President Joe Biden on Friday demanded from Congress a speedy pass Bipartisan innovation law, multi-billion dollar investment in The US semiconductor industry, which Republicans and Democrats say will help isolate the country from future supply chain disruptions in Asia.
Biden spoke at the United Performance Metals facility near Cincinnati. Senators Sherrod Brown and Rob Portman, Democrat and Republican, respectively, from Ohio, joined the president.
Biden applauded both men for their cooperation on legislation as part of broader bipartisan grassroots efforts up domestic production.
“This is a bipartisan bill,” Biden told workers at the plant. “Senators Brown and Portman are working hard to do it.”
“Accept this damn bill and send it to me,” the president continued. “If we do this, it help bring down prices, bring home jobs and power The return of American production.
While bipartisan innovation law is popular with members of both parties, the legislators of the House of Representatives and the Senate are going to begin work on elimination of differences in their two legislative versions. Negotiators for both houses, including Brown, will retain their first official meeting on check on Thursday, friend with It is reported by Reuters.
Among the many provisions of the bipartisan innovation law is $52 billion. in government growth subsidies up US semiconductor manufacturing.
On Friday, Biden said the amount would encourage semiconductor companies to build facilities in USA and help prevent types of shortage of chips currently undermine the automotive and electronics industries.
But the president stressed the direction of US legislators like the bill because it aims to support the US. technology and innovation and save pace with China, a key geopolitical rival.
This will help “strengthen our economic and national security,” Biden said. – No wonder the Chinese Communist Party is literally lobbying – paying lobbyists – against adoption of this bill.
Biden trip to Ohio also happens when the president tries help fellow Democrats in the upcoming 2022 midterm elections and prevent the Republican takeover of Congress.
The Republican Party and its candidates attacked the President and the Democratic Congress for their management of The United States economy, noting that inflation is at 40-year high, oil prices are still above $100 per barrel, and national average price of gallon of regular gasoline costs $4.28.
Former President Donald Trump won Ohio in 2016 and 2020 thank you in part of Rust Belt’s frustrations over watching manufacturers shift jobs to countries where labor costs are lower. The voters will decide in November, who will replace outgoing Portman with Trump-backed Republican writer J.D. Vance or Democratic Rep. Tim Ryan. in Senate.
In his speech, Biden drew attention to the April Department of Labor report on employment, which showed that American employers added 428,000 jobs last month.
April report was the 12th month in a row of profit over 400,000.
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