Biden has embarked upon the most ambitious use of federal economic power in decades as he seeks to reshape major U.S. industries for long-term prosperity while pressing businesses to deliver immediate benefits for consumers by lowering prices today.
, a solar energy start-up, to announce the administration’s decision to provide $535 million of federal loan guarantees.
at George Washington University. “You can’t do industrial policy with the technocratic approach of the last 40 years.” The mandates reflected two of Biden’s long-stalled priorities. Unable to secure them directly through Congress, the president settled for a partial victory by melding them with the semiconductor initiative. “This is not industrial policy from yesteryear. This is about boosting working families and using every possible opportunity to do it,” said Sen. Ron Wyden , the chairman of the Senate Finance Committee.
Last week, Biden took credit for Eli Lilly’s price-cut move and called on other drugmakers to follow.
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