{"id":145538,"date":"2022-08-09T20:00:15","date_gmt":"2022-08-10T03:00:15","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=145538"},"modified":"2022-08-09T20:00:15","modified_gmt":"2022-08-10T03:00:15","slug":"president-biden-at-signing-of-h-r-4346-the-chips-and-science-act-of-2022","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=145538","title":{"rendered":"President Biden at Signing of H.R. 4346, \u201cThe CHIPS and Science Act of 2022\u201d"},"content":{"rendered":"<p>Washington, DC&#8230;Well, I tell you what: Detroit is making some really hot vehicles.  (Laughter.)  They even got a Hummer that can go 4.1, 0 to 60.  That\u2019s faster than my Corvette, and my Corvette is older than I am, almost.  But what I realize is that my Corvette is now a hell \u2014 worth a hell of a lot more than when I bought it.  (Laughter.)  I got it original, 5,700 bucks.  They tell me it\u2019s worth a lot of money.  But I know if I ever sell it, Beau will come down from Heaven and smite me down.  But, at any rate \u2014<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/MOJWg2i2lZk\" title=\"President Biden Delivers Remarks and Signs Into Law H.R. 4346, the CHIPS and Science Act of 2022\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>And, by the way, that new Corvette \u2014 this electric Corvette \u2014 I got a commitment, that I don\u2019t think I\u2019m going to be able to enforce, that I get to buy the first one, because it\u2019s going to be out before I\u2019m out of office.  So \u2014 but, at any rate \u2014<\/p>\n<p>Look, folks \u2014 Chuck, you\u2019ve done a hell of a job.  You really have.  You really have.  (Applause.)  And, Speaker Pelosi, you always get it done.  You always get it done.  Come hell or highwater, you get it done.  (Applause.)  And I want to thank Secretary Raimondo.  (Applause.)<\/p>\n<p>And, Josh, thank you for the introduction.  Josh loves electric cars.  He graduated from Syracuse.  He\u2019s my kind of guy.  What more do you need?  Syracuse and electric cars.<\/p>\n<p>Look, this bill I\u2019m about to sign into law, in my view, represents what I\u2019ve always believed: America is the only nation in the world \u2014 and I believe this with every fiber of my being \u2014 the only nation in the world that can be defined, as I\u2019ve told Xi Jinping several years ago, by a single word. <\/p>\n<p>He asked me to define America for him when I was in China and he and I were alone on the Tibetan Plateau.  I said, \u201cI can do it in one word, and I mean it: possibilities.\u201d <\/p>\n<p>In America, everything is possible.  (Applause.)  We believe every and anything is possible.  It\u2019s part of the soul of this country.  I mean, it really is.<\/p>\n<p>We can channel all our resources.  Most of all, we can channel the full talents of all our people into a greater measure of hope and opportunity for our nation and for the world \u2014 to create good jobs, empower workers, grow the economy, not just for the wealthy but grow it for everyone; to change the course of human health and disease; to tackle climate crisis with innovation and jobs; to lead the world \u2014 not \u2014 this is not hyperbole \u2014 lead the world in future industries and protect our national security. <\/p>\n<p>We always gotten it \u2014 we haven\u2019t always gotten it right, but we\u2019ve never walked away from that sense of possibility that drives this country.  Never.<\/p>\n<p>Now, it matters today, I think, more than any \u2014 in a very long, long time.  You\u2019re tired of hearing me say this, those that work with me so closely, but that\u2019s because we face an inflection point in our nation and around the world. <\/p>\n<p>Fundamental change is taking place today \u2014 politically, economically, and technologically \u2014 change that can either strengthen our sense of control and security, of dignity and pride in our lives, in our nation; or \u2014 or change that weakens us so that people are left behind, causing them to question whether or not the very institutions \u2014 our economy, our democracy itself \u2014 can still deliver for them, for everybody.<\/p>\n<p>This is the moment we face.  I really mean this.  I believe it with every fiber of my being.  We are \u2014 we hear the noise out there.  We know there are those who focus more on seeking power than securing the future \u2014 excuse me \u2014 (coughs) \u2014 than securing the future; those who seek division instead of strength in unity; who tear down rather than build up. <\/p>\n<p>Today is a day for builders.  Today, America is delivering.  Delivering.  (Applause.)  And I honest to God believe that 50, 75, 100 years from now, from \u2014 people who will look back to this week, they\u2019ll know that we met this moment.  Today, I\u2019m signing into law the CHIPS and Science Act, a once-in-a-generation investment in America itself, a law that the American people can be proud of. <\/p>\n<p>I called for elements of this law when I first came to office.  I want to thank everyone \u2014 everyone here \u2014 who helped make it possible:  <\/p>\n<p>Vice President Harris and the Second Gentleman; members of the Cabinet and the White House team; members of the United States Congress of both parties; the Majority Leader; Senators Cantwell, Young, Portman.  I don\u2019t want to get you in trouble, but you did a hell of a job.  (Laughter and applause.)  By the way, he\u2019s a good man.  (Laughs.)  That\u2019s a different story.  That just probably cost him.  I apologize.  All kidding aside, thank you.  Thank you, thank you.  And along with Senators Cornyn and Wicker \u2014 helped keep this bill on track beginning to end.  <\/p>\n<p>In the House, I thank Pr- \u2014 Speaker Pelosi and Steny Hoyer and Representative \u2014 (laughs) \u2014 Eddie Bernice, God love you.  You\u2019re sitting there.  You\u2019re ready, you did it all.  You moved.  (Applause.)  Frank Pallone.  (Applause.)  I keep reminding Frank he\u2019s from New Jersey, but Delaware owns to the high water mark on the shore of New Jersey.  (Laughter.)  We had a court case about that.  I just want you to know that.  (Laughter.)<\/p>\n<p>Mike McCaul, Doris Matsui, and \u2014 and the man who holds the seat I used to hold, Chris Coons.  (Applause.)<\/p>\n<p>Look, so many other Democrats and Republicans alike who are committed to getting this bill done.  <\/p>\n<p>And while the bipartisanship in Congress is critical, I also want to acknowledge something else.  Look at the people here today.  You come from all different backgrounds to support this bill.  Governors \u2014 like the governor of Illinois who I see \u2014 legislators, mayors, state legislators, entrepreneurs, businesspeople, labor.  They\u2019re the reason why we\u2019re here.  They\u2019re the reason why we got this far.  Science \u2014 scientists, technologists, engineers, physicians.  Presidents of four-year and community colleges \u2014 both.  Civil rights leaders, national security leaders, government officials.<\/p>\n<p>I met with many of you through this process \u2014 so many of you who have spent years and years calling for key investments that are made in this bill.  For years you\u2019ve been calling for it.  You helped make it happen.  You represent why we are better positioned than any \u2014 any other nation in the world to win the economic competition of the 21st century.  You\u2019re the reason why I\u2019m so optimistic about the future of our country.<\/p>\n<p>You know, the CHIPS and Science Act supercharges our efforts to make semiconductors here in America \u2014 (coughs) \u2014 excuse me \u2014 those tiny computer chips smaller than a fingertip that are the building blocks for our modern economy, powering everything from smartphones, to dishwashers, to automobiles.<\/p>\n<p>In fact, there are as many as 3,000 semiconductors per vehicle made today.  Three thousand per vehicle. <\/p>\n<p>America invented the semiconductors.  They powered NASA\u2019s mission to the Moon.<\/p>\n<p>Federal research and development brought down the cost of making them and build a market and an entire industry.<\/p>\n<p>As a result, over 30 years ago, America had 40 percent of the global production of these chips.  And then something happened: American manufacturing, the backbone of our economy, was hollowed out, and we let semiconductor manufacturing go overseas.<\/p>\n<p>And as a result, today, we barely produce 10 percent of the semiconductors \u2014 (coughs) \u2014 excuse me \u2014 despite being the leader in chips design as well as research.<\/p>\n<p>And, as we saw during the pandemic, when factories that make these chips shut down, the global economy comes to a screeching halt, driving up costs for families and everyone \u2014 not just here, but around the world.<\/p>\n<p>One third of the core inflation last year was due to the higher price for automobiles \u2014 for automobiles and a shortage of semiconductors.<\/p>\n<p>Folks, we need to make these chips here in America to bring down everyday costs and create jobs.<\/p>\n<p>Don\u2019t take my word for it.  Listen to some of the business leaders here today and across the country.  They\u2019re making decisions right now about where to invest and ramp up production for these semiconductors. <\/p>\n<p>Many are foreigners making investments \u2014 companies making \u2014 deciding where in the world to go, and they\u2019ve chosen the United States of America.  They look at China, Japan, South Korea, the European Union all making historic investments of billions of dollars to attract the businesses to their countries to produce these chips.  But these industry leaders also see America is back and leading the way.  (Applause.)<\/p>\n<p>During my State of the Union, I described the \u201cfield of dreams\u201d on 1,000 acres outside of Columbus, Ohio, where America\u2019s future will be built.  (Applause.)<\/p>\n<p>Intel, whose CEO is here today \u2014 Pat Gelsinger is here today \u2014 he is going to going to break ground on the next-generation semiconductor factories in central Ohio early this fall.<\/p>\n<p>The American company Micron is announcing today that because of this law, it\u2019s going to invest $40 billion over 10 years to build factories and special chips called \u201cmemory chips\u201d<\/p>\n<p>that store information on your smartphone.  (Applause.)<\/p>\n<p>Investment.  This investment alone is going to create [up to] 40,000 jobs \u2014 (coughs) \u2014 excuse me; I\u2019m sorry \u2014 and increase market share in memory chips by 500 percent.<\/p>\n<p>Two more American companies \u2014 I\u2019m going to take another sip of water.  (Drinks water.)  Two other companies \u2014 GlobalFoundries and Qualcomm \u2014 announced yesterday a $4 billion partnership to produce chips in the U.S. that would otherwise have gone overseas.  Qualcomm \u2014 (applause) \u2014 is one of the world\u2019s largest buyers of chips \u2014 is planning to increase its chip production by up to 50 percent over the next five years.<\/p>\n<p>These companies see what I see: That the future of the chip industry is going to be made in America.  (Applause.) <\/p>\n<p>And for folks at home, there\u2019s a broader supply chain that makes these semiconductors that connect countless other small businesses and manufacturers.<\/p>\n<p>This law funds the entire sumercondictor [sic] \u2014 sumer- \u2014 semiconductor supply chain: for research and development, to key inputs like polysilicon manufactured by a factory in Hemlock, New York [Michigan].  Nearly one third of all the chips in the world use polysilicon made in Hemlock.<\/p>\n<p>Imagine if we had more of these kinds of factories across the country.  This law will make that a reality.<\/p>\n<p>And there\u2019s an analysis that says investment in the CHIPS and Science Act will create 1 million \u2014 more than 1 million construction jobs alone over the next six years building semiconductor factories in America.<\/p>\n<p>America invented the semiconductor, as mea- \u2014 as has been mentioned already, and this law brings it back home.  It\u2019s in our economic interest and it\u2019s in our national security interest to do so.<\/p>\n<p>Earlier this year, I went down to Lockheed\u2019s factory in Alabama where they\u2019re making the Javelin missiles that we\u2019re supplying to Ukraine to defend themselves against Putin\u2019s unprovoked war.  (Applause.)<\/p>\n<p>And it\u2019s crystal clear we need these semiconductors not only for those Javelin missiles, but also for weapons systems of the future that are going to be even more reliant on advanced chips. <\/p>\n<p>Unfortunately, we produce zero percent of these advanced chips now.  And China is trying to move way ahead of us in manufacturing these sophisticated chips as well.<\/p>\n<p>It\u2019s no wonder the Chinese Communist Party actively lobbied U.S. business against this bill.<\/p>\n<p>The United States must lead the world in the production of these advanced chips.  This law will do exactly that.  (Applause.) <\/p>\n<p>And to be clear, this law is not handing out blank checks to companies.  Today, I\u2019m ordering my administration to be laser-focused on the guardrails that will protect taxpayers\u2019 dollars.<\/p>\n<p>It means making sure that companies partner with community colleges and technical schools to offer training and apprenticeship programs and work with small and minority-owned businesses.  They\u2019ll have the power \u2014 we\u2019ll have the power to take back any federal funding if companies don\u2019t meet these commitments required by the bill.<\/p>\n<p>This includes requirements that companies building these semiconductor facilities pay Davis-Bacon prevailing wage \u2014 (applause) \u2014 to ensure the tens of thousands of new construction jobs are union jobs.  We will not allow companies to use these funds to buy back stock or issue dividends.<\/p>\n<p>And finally, this bill is about more than CHIPS, it\u2019s about science as well.  Decades ago, we used to invest 2 percent of our GDP and led that \u2014 led the world in everything.  We led the world in everything from Internet to GPS.  Today, we invest less than 1 percent. <\/p>\n<p>We used to rank number one in the world in research and development; now we rank number nine.  China was number eight decades ago; now they are number two.  And other countries are closing in fast.<\/p>\n<p>This law gets us moving up once again.  It authorizes funding to boost our research and development funding closer to 1 percent of the GDP, the fastest single-year percentage increase in 70 years.  And it\u2019s going to make a difference.  (Applause.) <\/p>\n<p>This increased research and development funding is going to ensure the United States leads the world in the industries of the future \u2014 from quantum computing, to artificial intelligence, to advanced biotechnology \u2014 the kinds of investments that will deliver vaccines for cancer, cures for HIV, invent the next ge- \u2014 big thing that hasn\u2019t even been imagined yet.<\/p>\n<p>A law that requirements [requires] that any company that receives federal research and development will have to make that technology they\u2019ve invented here in America.  That means we\u2019ll invest in America and invent in America and make it in America.<\/p>\n<p>We\u2019re going to make sure we include all of America, supporting entrepreneurs and technological hubs all across America, including historically Black colleges and universities, minority-serving institutions, Tribal colleges. <\/p>\n<p>We\u2019re going to tap into our greatest competitive advantage: our diverse and talented workforce \u2014 urban, rural, suburban, and Tribal.  (Applause.)<\/p>\n<p>And people like Josh came up with his idea for portable electric car chargers five years ago in Buffalo, New York. <\/p>\n<p>And all the young people out there today who have an idea, that spark of imagination to solve a problem they see, to cure a disease they have, to dream to make the impossible possible \u2014 this law is for them.<\/p>\n<p>Let me close with this: Last month, I awarded Steve Jobs the Presidential Medal of Freedom posthumously.  At every turn of his life, he dared to think differently, embodied that most of American questions: \u201cWhat next?\u201d<\/p>\n<p>The CHIPS and Science Act is going to inspire a whole new generation of Americans to answer that question, \u201cWhat next?\u201d<\/p>\n<p>Right now, as Bill can tell you, NASA has a mission: going back to the Moon, and then to Mars, the Sun, and beyond, capturing \u2014 capturing images of distant galaxies we could only once dream existed and we could never think we could see.<\/p>\n<p>The CHIPS and Science Act captures that magic here on Earth.  It also builds on the progress we\u2019ve made to rebuild America with the historic Infrastructure Law that I signed last year that\u2019s going to modernize our roads, our bridges, and deliver clean water, high-speed Internet for every American.<\/p>\n<p>It builds on another one of my many top priorities: creation of a res- \u2014 Advanced Research Projects Agency and Health \u2014 for Health \u2014 ARPA-H \u2014 that\u2019s going to transform how we detect, treat, and cure diseases like Alzheimer\u2019s, diabetes, and cancer.<\/p>\n<p>And tomorrow, I\u2019m signing the most significant law ever to help veterans suffering from exposure to toxins from burn pits.  (Applause.)<\/p>\n<p>And, soon, I hope to be signing the Inflation Reduction Act into law that\u2019s going to lower the costs of healthcare and energy and make historic investments to tackle the climate crisis.  (Applause.)<\/p>\n<p>Once that law is signed, any senior, by the first of the year, no matter how high their \u2014 if they\u2019re on Medicare \u2014 not matter how high \u2014 no matter how high their drug bills are, will never have to pay more than $2,000 a year \u2014 just one specific example \u2014 beginning in January.  (Applause.)  Because a lot is going to happen. <\/p>\n<p>And for all the division in our country, we\u2019re showing ourselves and the world that we can take on the biggest challenges, we can take on the special interests, and that our democracy can deliver for the people of this country.<\/p>\n<p>That\u2019s why I\u2019m confident that, decades from now, people are going to look back at this week, with all we\u2019ve passed and all we\u2019ve moved on, that we met the moment at this inflection point in history \u2014 a moment when we bet on ourselves, believed in ourselves, and recaptured the story, the spirit, and the soul of this nation.<\/p>\n<p>We are the United States of America, a singular place of possibilities.  (Applause.)<\/p>\n<p>I\u2019m now going to go sign the CHIPS and Science Act.  And once again, I promise you, we\u2019re leading the world again for the next decades.  Thank you.  (Applause.)<\/p>\n<p>Okay.  Ready?  Got it?<\/p>\n<p>(The bill is signed.)  (Applause.)<\/p>\n<p>10:56 A.M. EDT<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington, DC&#8230;Well, I tell you what: Detroit is making some really hot vehicles. (Laughter.) They even got a Hummer that can go 4.1, 0 to 60. That\u2019s faster than my Corvette, and my Corvette is older than I am, almost. But what I realize is that my Corvette is now a hell \u2014 worth a [&hellip;]<\/p>\n","protected":false},"author":1599,"featured_media":145539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,5,1],"tags":[],"class_list":["post-145538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2022\/08\/Fullscreen-capture-892022-75818-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/145538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1599"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=145538"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/145538\/revisions"}],"predecessor-version":[{"id":145540,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/145538\/revisions\/145540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/145539"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=145538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=145538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=145538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}