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Translated by: OX Translation Team – Mike Hua
On Monday May 6th, President Joe Biden urged congress to pass Bipartisan Innovation Act to speed up American semiconductor industry development and reduce supply chain dependency on Asian producer.
President Biden gave a speech when he was visiting a metal production company near Cincinnati, saying that the Act proposed by both parties, and there were two Democrat and Republican congress members on site to promote the bill. President Biden urged the congress to “pass the damn bill,” and forward the bill to sign by himself.
Bipartisan Innovation Act includes a fund of 52 billion dollars to support American semiconductor manufacturing. President Biden said that the fund will encourage semiconductor companies to build factories domestically, this will reduce the risk of chip shortage that would trouble automobile manufacturing in the country.
President Biden believes that the bill will help reduce price and create job opportunities, which will propel American manufacturing industry revival. “It’s no wonder the Chinese Communist Party is literally lobbying, paying lobbyists against this bill passing,” Biden said.
Currently, the bill is being scrutinized and edited by Democratic and Republican Senators.
Edited and Proofread by: James L
Posted by: James L
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