Once again, Biden takes credit for a Trump accomplishment.

The Spin Meister

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Nov 27, 2012
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An altered state
So Magoo was in Syracuse yesterday touting a new micro chip factory to be built there at a cost of $20 billion with the possibility of a hundred billion of 25 years. He went on to say that Trump failed to get Foxcom and others to build as promised. This is the fifth chip plant announcement in eighteen. Two in Pheonix, one in Austin, one in Columbus, and now this one.

But he ignored the huge reasons that these companies are now building in the US. Trump passed massive tax reform, reducing corporate taxes from 39% to 21% making these types of massive investments possible. He also reduced the taxes on offshore profits allowing several trillion dollars that were stranded over seas to now be utilized here. And perhaps most importantly, he was the loudest voice in pointing out how dangerous it is for us to rely on China for 90% of our critical needs.

Corporations take at least a couple years to make these types of decisions. Financial studies, market studies, product development, supply chain and logistics, site searches, employment and education, and many more. These is little doubt this process started during Trump’s presidency and was spurred on by his reforms.
 

m.knox

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So Magoo was in Syracuse yesterday touting a new micro chip factory to be built there at a cost of $20 billion with the possibility of a hundred billion of 25 years. He went on to say that Trump failed to get Foxcom and others to build as promised. This is the fifth chip plant announcement in eighteen. Two in Pheonix, one in Austin, one in Columbus, and now this one.

But he ignored the huge reasons that these companies are now building in the US. Trump passed massive tax reform, reducing corporate taxes from 39% to 21% making these types of massive investments possible. He also reduced the taxes on offshore profits allowing several trillion dollars that were stranded over seas to now be utilized here. And perhaps most importantly, he was the loudest voice in pointing out how dangerous it is for us to rely on China for 90% of our critical needs.

Corporations take at least a couple years to make these types of decisions. Financial studies, market studies, product development, supply chain and logistics, site searches, employment and education, and many more. These is little doubt this process started during Trump’s presidency and was spurred on by his reforms.

There is a reason why business confidence soared under Trump and tanked under Biden (and Obama for that matter).
 

2lion70

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Jul 1, 2004
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Congress passes bill that promises to boost semiconductor production in the US​


The CHIPS Act was passed by Congress in July 2022 long after Trump was gone. It passed with a number of Repubs voting against it.
The House of Representatives passed a bill on Thursday that focuses on boosting the production of semiconductors in the United States.

The bill, which passed in the Senate on Wednesday, is a long-awaited $280 billion legislative package with broad bipartisan support overall, but with some lawmakers coming out against the bill this week.
The legislative package passed the House with a vote of 243-187, which was closer than had been anticipated by leadership in Congress.

It now heads to the desk of President Joe Biden to be signed into law. It is expected to inject nearly $300 billion into the American manufacturing industry and boost scientific research.

As Axios points out, the hope is that the bill can pump enough support into manufacturing essential computer chips in the U.S. to try and prevent another supply chain crisis, while making the U.S. more competitive with China.

Florida Sen. Rick Scott expressed opposition to the bill on Wednesday, telling CNN if the bill "really did what they talked about if it really did say oh, we're going to make sure we build chips here, the chips we need, it was, I would be all in. That's not what this bill did."
 

The Spin Meister

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Nov 27, 2012
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An altered state

Congress passes bill that promises to boost semiconductor production in the US​


The CHIPS Act was passed by Congress in July 2022 long after Trump was gone. It passed with a number of Repubs voting against it.
The House of Representatives passed a bill on Thursday that focuses on boosting the production of semiconductors in the United States.

The bill, which passed in the Senate on Wednesday, is a long-awaited $280 billion legislative package with broad bipartisan support overall, but with some lawmakers coming out against the bill this week.
The legislative package [COLOR=%s]passed the House with a vote of 243-187, which was closer than had been anticipated by leadership in Congress.[/COLOR]

It now heads to the desk of President Joe Biden to be signed into law. It is expected to inject nearly $300 billion into the American manufacturing industry and boost scientific research.

As Axios points out, the hope is that the bill can pump enough support into manufacturing essential computer chips in the U.S. to try and prevent another supply chain crisis, while making the U.S. more competitive with China.

[COLOR=%s]Florida Sen. Rick Scott expressed opposition to the bill on Wednesday[/COLOR], telling CNN if the bill "really did what they talked about if it really did say oh, we're going to make sure we build chips here, the chips we need, it was, I would be all in. That's not what this bill did."
And three of the chip plants were announced prior to that passing. And it takes years for corporations to make such a critical and massive move like this. A low Corp tax rate, repatriation of foreign profits, the fear of Chinese actions, and lower regs were huge in making those decisions.
 
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bdgan

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May 29, 2008
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Congress passes bill that promises to boost semiconductor production in the US​


The CHIPS Act was passed by Congress in July 2022 long after Trump was gone. It passed with a number of Repubs voting against it.
The House of Representatives passed a bill on Thursday that focuses on boosting the production of semiconductors in the United States.

The bill, which passed in the Senate on Wednesday, is a long-awaited $280 billion legislative package with broad bipartisan support overall, but with some lawmakers coming out against the bill this week.
The legislative package [COLOR=%s]passed the House with a vote of 243-187, which was closer than had been anticipated by leadership in Congress.[/COLOR]

It now heads to the desk of President Joe Biden to be signed into law. It is expected to inject nearly $300 billion into the American manufacturing industry and boost scientific research.

As Axios points out, the hope is that the bill can pump enough support into manufacturing essential computer chips in the U.S. to try and prevent another supply chain crisis, while making the U.S. more competitive with China.

[COLOR=%s]Florida Sen. Rick Scott expressed opposition to the bill on Wednesday[/COLOR], telling CNN if the bill "really did what they talked about if it really did say oh, we're going to make sure we build chips here, the chips we need, it was, I would be all in. That's not what this bill did."
Only $50b of the nearly $300b goes to chip manufacturers. A lot more goes to research universities who get to keep rights to their intellectual property.
 
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