MSN - AP World http://syn2.thecanadianpress.com:8080/mrss/feed/fcf7391a2f354311807f0501c16bde6a MSN - AP World Copyright © 2010-2018 The Canadian Press. All rights reserved. http://www.rssboard.org/rss-specification Sat, 10 Dec 2022 05:02:18 +0000 Biden signs $280B CHIPS Act: 'America is back' http://syn2.thecanadianpress.com:8080/mrss/feed/fcf7391a2f354311807f0501c16bde6a/32d3ae5d28324455957a59bb938b5eec President Joe Biden signed the CHIPS and Science Act Tuesday, a $280 billion bipartisan bill to boost domestic high-tech manufacturing. The measure is part of his administration’s push to boost U.S. competitiveness over China. (Aug. 9) 32d3ae5d28324455957a59bb938b5eec Tue, 09 Aug 2022 17:28:28 +0000 SHOTLIST:RESTRICTION SUMMARY:US NETWORK POOLWashington, DC - 9 August 20221. President Joe Biden signs CHIPS and Science Act on White House South Lawn, holds up signed bill2. SOUNDBITE (English) Joe Biden, U.S. President:"Today I'm signing into law the CHIPs and Science Act, a once in a generation investment in America itself, a law that the American people can be proud of."3. SOUNDBITE (English) Joe Biden, U.S. President:"Don't take my word for it. Listen to some of the business leaders here today and across the country. They're making decisions right now about where to invest and ramp up production for these semiconductors. Many are foreigners making investments, companies, making, deciding where in the world to go. And they've chosen the United States of America. And look at China, Japan, South Korea, the European Union, all making historic investments of billions of dollars to attract the businesses to their countries to produce these chips. But these industry leaders also see America is back and leading the way."4. SOUNDBITE (English) Joe Biden, U.S. President:"These companies see what I see, that the future of the chip industry is going to be made in America."5. SOUNDBITE (English) Joe Biden, U.S. President:"For all the division in our country, we're showing ourselves and the world that we can take on the biggest challenges. We can take on the special interest, and that democracy can deliver for the people of this country. That's why I'm confident that decades from now, people will look back at this week with all we passed and all we moved on, that we met the moment at this inflection point in history, a moment when we bet on ourselves, believed in ourselves, and recaptured the story, the spirit and the soul of this nation."STORYLINE:President Joe Biden on Tuesday signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing, part of his administration's push to boost U.S. competitiveness over China.Flanked by scores of lawmakers, union officials, local politicians and business leaders, Biden feted the legislation, a core part of his economic agenda that will incentivize investments in the American semiconductor industry in an effort to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods."The future of the chip industry is going to be made in America," Biden said in a sweltering Rose Garden ceremony Tuesday, referring to the diminutive devices that power everything from smartphones to computers to automobiles. The legislation sets aside $52 billion specifically to bolster the U.S. computer chip sector. The bill has been more than a year in the making, but finally cleared both chambers of Congress late last month with significant bipartisan margins. The Senate passed it 64-33, with 17 GOP senators supporting it, while the House quickly followed suit with a 243-187 vote that included 24 House Republicans in favor, even though party leaders began urging their ranks to vote against it after Democrats advanced a separate sweeping bill focused on climate and health care. The White House sought Tuesday to begin selling the immediate impacts of the semiconductor measure, noting that Micron, a leading U.S. chip manufacturer, will announce a $40 billion plan to boost domestic production of memory chips, while Qualcomm and GlobalFoundries will unveil a $4.2 billion expansion of an upstate New York chip plant.The administration has also repeatedly portrayed this legislation as a critical component in countering the influence of a rising China and ensure the U.S. can maintain a competitive edge against Beijing, particularly in semiconductor manufacturing. Administration officials have held multiple briefings for lawmakers to sketch out the national security implications of this bill, and Biden noted during his remarks Tuesday that the Chinese government had lobbied U.S. businesses against the legislation. Calling the bill "a once in a generation investment in America itself," Biden said the law is one "the American people can be proud of.""Decades from now, people will look back at this week and all we passed and all we moved on, that we met the moment at this inflection point in history," he said.Tuesday's ceremony is one of several public events Biden has scheduled since recovering from COVID-19, including a visit to flood-ravaged Kentucky on Monday and another signing event on Wednesday for legislation aiding veterans who have suffered from toxic burn pits. But Biden appeared to be dealing with some residual symptoms, coughing heavily several times during his remarks and apologizing at one point for doing so.===========================================================Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. President Joe Biden signed the CHIPS and Science Act Tuesday, a $280 billion bipartisan bill to boost domestic high-tech manufacturing. The measure is part of his administration’s push to boost U.S. competitiveness over China. (Aug. 9) Biden signs $280B CHIPS Act: 'America is back'