Tagged in and posted in Business, Technology

President Biden’s expansive infrastructure proposal includes $50 billion for the American semiconductor industry, whose lobbying efforts have gained momentum amid a global chip shortage and fears that China might be overtaking the U.S. in a critical technology.

During a White House meeting with more than a dozen senior executives on Monday, Biden read a letter from 23 senators and 42 House members supporting his proposal to allocate $ 50 billion to manufacturing semiconductor research.

Biden said, “Both sides strongly support what we are proposing, and in the area in which I think we will do something for the American people. Now, let me quote the message that says:” The Chinese Communist Party aggressively plans to reorient and control the supply chain of semiconductors. And it depends on how much money they will pump in to be able to do that. “

More than a dozen CEOs participated in the virtual summit, which included Mary Barra, CEO of General Motors, James De Farley, CEO of Ford Motor Company, Sundarbichai, CEO of Alphabet, and Google.

CAR COMPANY PRESSURE

Car manufacturers are pushing for part of the money to go to car chips.
and warned of a possible deficit of 1.3 million in the production of cars and light trucks in the United States this year, if their industry is not given priority.