CHIPS AND SCIENCE ACT CLIMATE ACTION/ENVIRONMENT ECONOMY INFLATION REDUCTION ACT

Global Clean Energy Spending Projected To Exceed $2 Trillion This Year, In No Small Part Because Of The Inflation Reduction Act

Global spending on clean energy is projected to go to $2 Trillion this year. It is double the amount being spent on fossil fuels in the same time period. The US portion of that spending is set to increase by $300 Billion, in part because of Joe Biden’s Inflation Reduction Act and the CHIPS and Science Act. A major chunk of that spending is on renewables.

CHIPS AND SCIENCE ACT ECONOMY JOBS

Biden Announces $8.5 Billion Investment In Chip Manufacturing, Heavily Weighted Towards Arizona

President Joe Biden announced his $8.5 billion investment in Intel chip manufacturing plants, courtesy of the CHIPS and Science Act. This investment, along with many others like it, will create high paying jobs (many without the need of a college education) in Arizona and elsewhere. It is also part of the long term solution to the supply chain problems the US suffered at the beginning of Biden’s presidency.

BIPARTISAN INFRASTRUCTURE LAW CHIPS AND SCIENCE ACT ECONOMY JOBS

Biden Celebrates $3.3 Billion Investment By Microsoft In AI Data Center In Wisconsin

President Joe Biden took a moment to announce the investment by Microsoft for a facility to be built on the failed FoxConn site the previous president promised would be the 8th wonder of the world, but never materialized. Microsoft president Brad Smith told the crowd that Biden’s policies, especially the Bipartisan Infrastructure Law and CHIPS and Science Act, helped make this investment possible. It is expected to create thousands of jobs and train 100,000 Wisconsonites in AI technologies for future job opportunities.

CHIPS AND SCIENCE ACT ECONOMY JOBS LEGISLATION

March’s Blockbuster Jobs Report Exceeds Wall Street’s Expectations

March’s Jobs data is in, and it is, again, very good news. Thanks to President Joe Biden’s handling of the economy, including several major pieces of legislation like the CHIPS and Sciences Act, the economy added 303,000 non-farm jobs in the month of March. That brings to over 15 million the number of jobs added to the economy since Biden became president. Not only that, but the unemployment rate dropped to 3.8%, extending what was already the longest stretch of sub-4% unemployment since the 1960s.

CHIPS AND SCIENCE ACT ECONOMY JOBS LEGISLATION

The CHIPS and Science Act Jumpstarts The Tech And Manufacturing Sectors

In August, 2022, President Joe Biden signed the CHIPS and Science Act, designed to strengthen American manufacturing and innovation. The act invests $280 billion to bolster US semiconductor capacity, catalyze R&D, and create regional high-tech hubs and a bigger, more inclusive STEM workforce. Almost immediately after Biden signed it, the private sector promised investment of over $200 billion in tech and manufacturing. The economy has gained manufacturing jobs at a pace not seen since the 1950s.

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