Biden signs $280 billion CHIPS and Science Act into law

Yahoo Finance Video
43

President Biden signed the CHIPS and Science Act into law on August 9, 2022. The $280 billion legislation provides $52.7 billion for American semiconductor research, development, manufacturing, and workforce development.

Video Transcript

JOE BIDEN: For all the division in our country, we are showing ourselves and the world that we can take on the biggest challenges. We can take on the special interest. And that democracy can deliver for the people of this country.

That's why I'm confident that decades from now, people will look back at this week with all we've passed and all we moved on, that we met the moment at this inflection point in history. A moment when we bet on ourselves, believed in ourselves, and recaptured the story, the spirit, and the soul of this nation.

We are the United States of America, a singular place of possibilities. I'm now gonna go sign the CHIPS and Science Act. And once again, I promise you, we're leading the world again for the next decades. Thank you.

Got it.

- Yes.

JOE BIDEN: Whoa, it's law.

[CROWD CHEERING]

[APPLAUSE]