Democrats muscled through legislation in the House that they say positions the U.S. to better compete with China economically by strengthening the domestic semiconductor industry. From the Associated Press.
WASHINGTON — Democrats muscled through legislation in the House on Friday that they say positions the United States to better compete with China economically and on the global stage by strengthening the domestic semiconductor industry and shoring up strained supply chains.
Employees wearing protective equipment work at a semiconductor production facility for Renesas Electronics during a government organized tour for journalists in Beijing, on May 14, 2020. The bill gives Democrats a chance to address voter concerns about the economy at a time when a shortage of computer chips has led to higher prices for automobiles, electronics and medical devices. To show his administration is addressing inflation concerns, Biden highlighted the vote at a White House event Friday and reminded Americans of Intel’s announcement two weeks ago that it would be building two computer chip production plants in Ohio.
“In the process of that slow atrophy we’ve become incredibly dependent on countries across the world,” Raimondo said. “And, so, what this bill is saying is stop the decline.” The pandemic has strained the supply chain for the chips. The Commerce Department issued a report last week that found the median inventory of some semiconductor products had fallen from 40 days in 2019 to less than five days in 2021. The report also said stakeholders don’t see the problem going away in the next six months. The administration cited the findings in calling for Congress to act.
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