{"id":1570548,"date":"2022-07-25T19:52:31","date_gmt":"2022-07-25T23:52:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570548"},"modified":"2022-07-25T19:52:39","modified_gmt":"2022-07-25T23:52:39","slug":"biden-makes-push-for-chips-legislation-with-ceos-meeting","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-makes-push-for-chips-legislation-with-ceos-meeting\/","title":{"rendered":"Biden makes push for chips legislation with CEOs meeting"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-makes-push-for-chips-legislation-with-ceos-meeting%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570548&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By David Shepardson and Patricia Zengerle<\/p>\n<p>WASHINGTON (Reuters) -President Joe Biden met virtually on Monday with the chief executives of Lockheed Martin Corp, Medtronic PLC and Cummins Inc along with labor leaders as part of the administration\u2019s push for legislation to boost the U.S. semiconductor industry.<\/p>\n<p>\u201cThis is about investing in the United States,\u201d said Commerce Secretary Gina Raimondo who took part in the event. \u201cAmerica has become totally reliant on China particularly for\u201d chips used in aircraft, medical devices and industrial machines.<\/p>\n<p>The Senate\u2019s Democratic majority leader, Chuck Schumer, said the chamber would vote to pass the chips bill as soon as Tuesday or Wednesday evening if the Senate voted to advance the bill later on Monday.<\/p>\n<p>On Tuesday, the Senate backed by 64 to 34 a procedural measure on a slimmed-down version of legislation to provide tens of billions of dollars in subsidies and tax credits for the semiconductor industry.<\/p>\n<p>Lockheed Martin CEO James Taiclet told Biden a robust supply of chips \u201cis essential both to national security and to the health of the defense industrial base and the aerospace industry as a whole.\u201d<\/p>\n<p>The bill aims to ease a shortage that has disrupted production in industries including automobiles, consumer electronics, medical equipment and high-tech weapons.<\/p>\n<p>It is part of a broad effort across the government to push back against an ascendant China and ease supply-chain problems by decreasing U.S. companies\u2019 reliance on foreign-made semiconductors.<\/p>\n<p>The bill includes about $52 billion in subsidies for U.S. semiconductor production, as well as a new, four-year 25% tax credit to encourage companies to build U.S. semiconductor plants. The tax credit is estimated to be worth about $24 billion. There are other provisions, including a $1 billion grant program for \u201cpersistently distressed communities.\u201d<\/p>\n<p>The Senate approved a bipartisan $250 billion bill boosting spending on technology research and development in June 2021, while the House passed its own version in February.<\/p>\n<p> (Reporting by David Shepardson; Editing by Mark Porter and Marguerita Choy)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2730446\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6O0P5-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6O0P5-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) -President Joe Biden met virtually on Monday with the chief executives of Lockheed Martin Corp, Medtronic PLC and Cummins Inc along with<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1570548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1570548"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1570548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1570548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1570548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}