The United States President Joe Biden has hailed the passage of a bill to subsidize US-made goods.
Hailing the passage on Friday July 29, 2022, Biden stated that it would lower the costs of everyday goods.
“The House passed CHIPS and Science Act, which will make cars cheaper, appliances cheaper, and computers cheaper. It will lower the costs of everyday goods,” Biden said. “And it will create high-paying manufacturing jobs across the country and strengthen U.S. leadership in the industries of the future at the same time.”
“This legislation is exactly what we need to be doing to grow our economy right now. By making more semiconductors in the United States, this bill will increase domestic manufacturing and lower costs for families. And it will strengthen our national security by making us less dependent on foreign sources of semiconductors,” said Biden.
He added, “This bill includes important guardrails to ensure that companies receiving taxpayer dollars invest in America and that union workers are building new manufacturing plants across the country.
“I look forward to signing this bill into law and continuing to grow our economy from the bottom up and middle out for working families all across the country.”