Administration of Joseph R. Biden, Jr., 2022

The House took an important step forward today in advancing legislation that will make our supply chains stronger and reinvigorate the innovation engine of our economy to outcompete China and the rest of the world for decades to come.

The proposals laid out by the House and Senate represent the sort of transformational investments in our industrial base and research and development that helped power the United States to lead the global economy in the 20th century and expand opportunity for middle class families. They'll help bring manufacturing jobs back to the United States, and they're squarely focused on easing the sort of supply chain bottlenecks like semiconductors that have led to higher prices for the middle class. Building on the historic investments in the bipartisan infrastructure law that I signed last yearâand on signs of progress like last week's Intel announcement and today's GM announcementâcomprehensive competitiveness legislation will power our economy to create good-paying jobs for all Americans, no matter where you live or whether you have a college degree, and will help tackle the climate crisis.

I'm heartened by Congress' bipartisan work so far, and its commitment to quick action to get this to my desk as soon as possible. Together, we have an opportunity to show China and the rest of the world that the 21st century will be the American century, forged by the ingenuity and hard work of our innovators, workers, and businesses.

Categories: Statements by the President : America Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength (COMPETES) Act of 2022.

Subjects: Business and industry : Automobile industry :: Improvement; Business and industry : Manufacturing industry :: Strengthening efforts; Commerce, international : Global supply chain disruptions, efforts to address; Economy, national : Strengthening efforts; Employment and unemployment : Job creation and growth; General Motors Co.; Infrastructure, national improvement efforts; Science and technology : Research and development.

DCPD Number: DCPD202200036.

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