President Biden is expected to announce a multi-billion dollar CHIPS & Science Act award for the major chip manufacturer Intel while visiting its campus Thursday in Chandler, Ariz. — just outside Phoenix.
Intel will receive nearly $20 billion in grants and loans the administration may provide for the semiconductor company to expand operations in Arizona, Ohio, New Mexico and Oregon, and the company is aiming for an additional $25 billion in tax breaks.
In all, Intel plans to spend some $100 billion on the projects.
Biden has highlighted silicon chips in terms of pride as a historic American innovation. Increased domestic production of semiconductors is also seen as an important national security issue.
The president is scheduled to speak at 2:45 p.m. EDT.
Watch the live video above.
** (Disclaimer: This video content is intended for educational and informational purposes only) **
So private equity and corporations pushed jobs over seas to increase profits. Now tax payers have to foot the bill to bring them back. The whole time members of congress get to buy stock in these companies making money when they left now making money when they come back.
Unions are great for pitting managment against the workers, and protecting subpar employees from being replaced. Unions facilitate an "Us VS Them" mentality and remove the motivation for workers to think outside the contract.
By the time Tis B fully up, running. The Taiwanese would’ve leaped light years ahead in Chips tech.😊 futile exercise. Design them. They find a better, quicker cheaper way 2 make them.
He had 4 years to fix this…. Now he is doing all these things to get elected. He deserves to lose.
How can anyone have any self respect and vote for this?
Corrupt POs.
Mr Joe are you going to win ??
These are some of the most profitable corporations in history (nvidia anyone?).. why they need to receive welfare instead of taking out a bank loan or issuing bonds against future earnings shows the hypocrisy of our current government telling us taxpayers it has nothing to help us with healthcare, education and the cost of living.
Dont invest under biden you will be prosecuted for it clearly
Still not gonna win Arizona
Bidenomics =10%for The Big Guy
Dose of dexamethasone again today. Perked him right up.
Migrants jobs!😂
I read a recent article the CIA pulled a contract from Intel worth billions on developing chips for military and such
I can’t lol
Most of this is just governments throwing away taxpayer money
Here comes dementia joe
VOTE BLUE!!!!! He has made more JOBS then the previous
Biden gave billions to Ukraine and illegals but now with 8 months left he thinks he can "pander" a vote from the actual American citizens? FJB
This is gonna go the same way as the Obama/Biden bailout of Solyndra in 2009. Venture capitalists knew it was a loser and quit investing. The government gave them $535 million in loans, which went to buying out the investors so they wouldn’t lose any money, and paying executives their ill-gotten bonuses. These new chip factories are only useful if there are customers, and on that, the market has spoken. Intel hasn’t met a technical timeline for new chips in something like 10 years. TSMC has killed them in the open market, and billions of taxpayer-funded donations isn’t gonna change that.
my professor, my predecessor
He never worked a job with a union. The fact he claims to know about them is bs fjb
Biden wants to invest in America but not the American people. Let the American people first get healthcare the same one we provide Israel
Lol