The House on Thursday passed a $280-billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States.
The House on Thursday passed a $280-billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and help it better compete with international rivals, namely China.
As the vote was taking place, Biden was discussing the economy with CEOs at the White House. During the event, he was handed a note informing him it was clear the bill would pass — a development that produced a round of applause before the tally was final. “This affects every industry in the United States,” Morelle said. “Take, for example, General Motors announcing they have 95,000 automobiles awaiting chips. So, you want to increase the supply of goods to people and help bring down inflation? This is about increasing the supply of goods all over the United States in every single industry.”
The CBO also projected that the bill would increase deficits by about $79 billion over the coming decade. Leading into the vote, it was unclear whether any House Democrats would join with Sen. Bernie Sanders in voting against the bill; in the end, none did.
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