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President Biden on Thursday strongly urged Congress to pass legislation that he said would counter China’s economic influence by increasing US spending on manufacturing, technology and research.
Speaking at North Carolina Agricultural and Technical State University, the country’s historically largest black college or university, Mr. Biden insisted the legislation would make the United States more competitive in the global economy.
“Congress needs to bring this bill to my desk as soon as possible,” said Mr Biden. “Our economic strength is also on the line and in national security.”
“Companies are ready to invest in America, in American communities, in American workers, but they need to see that their governments can invest in our future,” said Mr. Biden. “So Congress, bring this bipartisan bill to my desk. North Carolina needs it, America needs it.”
The Senate and House passed their own versions of the bill known as the America’s Competition Act. Both bills will use federal dollars to fix supply chain disruptions and increase production of semiconductor chips.
The House version of the bill will allocate $52 billion in grants and subsidies to help the semiconductor industry and $45 billion to improve supply chains for high-tech products.
Both houses must now resolve the differences between the two bills and then vote again before they are sent to Mr. Biden’s desk. Congress created a House-Senate conference committee to incorporate elements from the bills of both houses.
Prior to his remarks, Mr. Biden toured the North Carolina Agriculture and Technology robotics lab, where he met Spot, a robotic dog capable of maneuvering in complex environments and performing remote missions.
Biden’s push for the bill came after the Labor Department reported inflation this week hitting 8.5%, a 40-year high, as prices for everything from food to gasoline soared.
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