Biden to Sign $280B CHIPS Act          08/09 06:31

   President Joe Biden is preparing to sign a $280 billion bipartisan bill to 
boost domestic high-tech manufacturing, part of his administration's push to 
boost U.S. competitiveness over China.

   WASHINGTON (AP) -- President Joe Biden is preparing to sign a $280 billion 
bipartisan bill to boost domestic high-tech manufacturing, part of his 
administration's push to boost U.S. competitiveness over China.

   The Rose Garden ceremony on Tuesday will include lawmakers, union officials, 
local politicians and business leaders, the White House said, as the president 
looks to highlight a new law that will incentivize investments in the American 
semiconductor industry in an effort to ease U.S. reliance on overseas supply 
chains for critical, cutting-edge goods.

   "We are going to invest it in America," Biden said Friday. "We're going to 
make it in America. We're going to win the economic competition of the 21st 
century in America."

   The White House said Micron is announcing a $40 billion plan to boost 
domestic manufacturing of memory chips, and Qualcomm and GlobalFoundries are 
announcing a $4.2 billion expansion of an upstate New York chip plant.