US House Bill on Chip Investment, China Competitiveness Coming Soon: Nancy Pelosi

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The US House of Representatives will soon introduce a bill to increase US competition with China and boost federal spending on semiconductors, Speaker Nancy Pelosi said on Friday as the Biden administration seeks to boost domestic chip production.

“The House will soon introduce its competitiveness bill,” she said in a note to Democratic aides.

The announcement came a few hours later Intel Was said It will invest more than $20 billion (about Rs 1,48,800 crore) in a massive construction project at two new chip-making plants in Ohio that could benefit from federal funding in the coming years.

President Joe Biden’s administration is pushing to persuade Congress to approve funding to help boost chip production in the US, as shortages of key components used in autos and computers have created supply chain bottlenecks. has increased.

“I want Congress to pass this bill immediately and bring it to my table,” Biden said. “Let’s do it for our economic competitiveness and our national security.”

The Senate last year passed the US Innovation and Competition Act, which includes $52 billion (about Rs 3,86,985 crore) to increase US semiconductor production and $190 (about Rs 14,13,984 crore) to strengthen US technology and research. Rupees) billion has been authorized. Competition with China.

“House legislation will supercharge our investments in chips, strengthen our supply chain and replace our research capability, as well as several other key provisions,” Pelosi said in a letter to Democratic aides.

Biden said earlier in the week that rising inflation “has everything to do with the supply chain” and that the United States had the potential to become self-sufficient on the computer chips needed to manufacture automobiles.

The administration has tried to reduce lack of chip, meeting with industry executives and colleagues to discuss the topic, and launching a study from the Department of Commerce to identify chokepoints and other problems.

Biden referred to Intel’s investment Friday at a White House event with chip company CEO Pat Gelsinger and made the case for Congressional action.

In an interview with Reuters ahead of a White House news conference, Gelsinger said that without government funding “we’re still going to start the Ohio site. It’s not going to happen that fast and it’s not going to be that big.” “

Gelsinger said Intel’s initial $20 billion (about Rs 1,48,800 crore) investment — the largest in Ohio’s history — would create 3,000 jobs on a 1,000-acre site in New Albany. This may increase to $100 billion, which is roughly Rs. 7,44,200 crore) with a total of eight manufacturing plants and is the largest investment in Ohio’s history, he told Reuters.
© Thomson Reuters 2021


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