(CNN)President Joe Biden is set to sign two long-awaited laws into law this week, with bills coming into law on Tuesday To do. It's a rare opportunity for the president to celebrate a string of bipartisan victories in Washington ahead of his upcoming summer vacation.
With the 2022 midterm elections less than 100 days away from him and Americans growing frustrated in a summer of major economic and political change, Biden's political standing among the public has risen. declining.
On Tuesday, Biden made a statement and signed into his CHIPS and Science Act of 2022 to make US semiconductor production more competitive with thelong-awaited bill. will be promoted. The White House said the bill would "lower the cost of commodities, strengthen American manufacturing and innovation, create high-paying jobs, and strengthen the economy and national security."
White House officials said hundreds of people, including union leaders, industry executives from companies such as HP and Intel, congressional leaders on both sides of the aisle, and state elected officials, A guest will be attending the signing event.
Companies announced this week that they will invest about $50 billion more in American semiconductor manufacturing as a result of newly passed legislation, according to the White House.
"Micron has announced his $40 billion investment in making memory chips critical to computers and electronics, which will create up to 8,000 new jobs." , White House Facts his sheet states. "This investment alone will increase U.S. market share in memory chip production from 2% to 10%."
Additionally, Qualcomm and GlobalFoundries announced a new partnership involving his $4.2 billion in chip manufacturing. is announced.
And on Wednesday, the President will sign Private First Class Sergeant Heath Robinson honoring his promise to address the Comprehensive Poisonous Substances (PACT) Act of 2022. Legislationexpands medical benefits for millions of veterans exposed to toxic burns during military service.
This measure could broadly extend health care resources and benefits to those exposed to the wreckage and could provide compensation for up to 3.5 million eligible veterans. It adds conditions related to burns and toxic exposures, including high blood pressure, to the VA's list of illnesses developed or exacerbated during military service. We've speculated that burns were involved in the cancer that killed Beau, in a Covid-19 rebound case. Biden, who is at higher risk of her Covid-19 case being more severe due to her age, announced she would be released from isolation on Sunday after testing negative for her second Covid-19 test.Allowed.
By the end of the month, Mr. Biden may have other big chances of winning a political victory.
Biden faces the real possibility of signing theInflation Reduction Act, a version of his groundbreaking climate change and health care bill.
A sweeping bill has been passed by the Senate, in line with party lines, and the House is expected to vote on it later this week.
This law is the largest climate investment in U.S. history, giving Medicare for the first time the power to negotiate the price of certain prescription drugs, extending expiry dates, and improving health outcomes. It will bring about a big change in policy. 3 years medical subsidy. The bill would cut the deficit and make up for it with new taxes, including a minimum tax rate of 15% on large corporations and his 1% tax on stock buybacks, and increase the Internal Revenue Service's ability to collect.
In 10 years, he has raised over $700 billion in government revenue, spent over $430 billion to reduce carbon emissions, and subsidize health insurance under the Affordable Care Act. and use the remaining new revenues to reduce the deficit.
By the end of the state, the President will also have to make a decision on whether to extend the moratorium on the massive federal student loans underway in the nation.
} The president is also considering the possibility of canceling some student loans. While this is a big partisan and generational issue, it could prove even more politically rewarding for some voters as the country continues to grapple with inflation that pushes up the cost of commodities and services.