Category Archives: Economic Development

Biden Administration, Economic Development, Economic Policies, Infrastructure, Manufacturing, President Joe Biden

FACT SHEET: President Biden Announces Up To $8.5 Billion Preliminary Agreement with Intel under the CHIPS & Science Act

Funding catalyzes $100 billion in private investment from Intel to build and expand semiconductor facilities in Arizona, Ohio, New Mexico, and Oregon and create nearly 30,000 jobs. Here’s a fact sheet from the White House:

President Biden traveled to Chandler, Arizona, on March 20 to visit Intel’s Ocotillo campus and announce that the Department of Commerce has reached a preliminary agreement with Intel to provide up to $8.5 billion in direct funding along with $11 billion in loans under the CHIPS and Science Act. The announcement will support the construction and expansion of Intel facilities in Arizona, Ohio, New Mexico, and Oregon, creating nearly 30,000 jobs and supporting tens of thousands of indirect jobs. During his visit to Arizona, President Biden will discuss the vision that he laid out in his State of the Union, underscoring how his Investing in America agenda is building an economy from the middle out and bottom up, creating good-paying jobs right here in America, strengthening U.S. supply chains, and protecting national security.

Semiconductors were invented in America and power everything from cell phones to electric vehicles, refrigerators, satellites, defense systems, and more. But today, the United States produces less than 10 percent of the world’s chips and none of the most advanced ones. Thanks to President Biden’s CHIPS and Science Act, that is changing. Companies have announced over $240 billion in investments to bring semiconductor manufacturing back to the United States since the President took office. Semiconductor jobs are making a comeback. And thanks to CHIPS investments like the one today, America will produce roughly 20% of the world’s leading-edge chips by the end of the decade.

The announcement is critical to realizing President Biden’s vision to reestablish America’s leadership in chip manufacturing. In particular, this CHIPS investment will support Intel’s construction and expansion projects across four states and will create nearly 30,000 jobs:

  • Chandler, Arizona: Funding will help construct two leading-edge logic fabs and modernize one existing fab, significantly increasing manufacturing capacity to produce Intel’s most advanced semiconductors in the United States. This investment will create over 3,000 manufacturing jobs, 7,000 construction jobs, and thousands of indirect jobs. Intel’s investment in Arizona is among the largest private sector investments in the state’s history.
    • New Albany, Ohio: Funding will establish a new regional economic cluster for U.S. chipmaking with the construction of two leading-edge logic fabs. This investment will create 3,000 manufacturing jobs, 7,000 construction jobs, and an estimated 10,000 indirect jobs. Intel’s investment in Ohio is the largest private-sector investment in the state’s history.
       Rio Rancho, New Mexico: Funding will support the nearly complete modernization and transformation of two fabs into advanced packaging facilities, where chips are assembled together to boost their performance and reduce costs. Advanced packaging is critical for artificial intelligence (AI) applications and the next generation of semiconductor technology. It also allows manufacturers to improve performance and function and shorten the time it takes to get many advanced chips to market.  When completed, these facilities will be the largest for advanced packaging in the United States. This investment will create 700 manufacturing jobs and 1,000 construction jobs.
       
  • Hillsboro, Oregon: Funding will expand and modernize facilities to increase clean-room capacity and utilize advanced lithography equipment, further strengthening this critical innovation hub of leading-edge development and production in the United States. This investment will support several thousand new permanent and construction jobs and thousands of indirect jobs.
     

Creating Good-Paying and Union Jobs with Good Benefits Across America

President Biden promised to be the most pro-worker, pro-union President in American history, and his Administration has committed to ensuring that workers have the free and fair choice to join a union and equitable training pathways to good jobs. As part of the Administration’s effort to connect workers with good-paying jobs created by the President’s Investing in America agenda, the White House announced five initial Workforce Hubs across the country – two of which have focused on building pipelines to good jobs in the semiconductor industry: Phoenix, Arizona, and Columbus, Ohio. And, last year, the National Science Foundation and Intel announced $100 million to expand semiconductor workforce training opportunities, education, and research across the nation.

Under their preliminary agreement with the Department of Commerce, Intel has committed to work closely with workforce training providers (e.g., educational institutions, state and local agencies, labor unions) to develop and train workers for jobs created by the investment announced today. The Ohio State Building Trades signed a Project Labor Agreement (PLA) for the Ohio construction site, and there is a majority-union construction crew in both the Arizona and Oregon sites. The Administration strongly supports workers’ right to organize and expects Intel to continue its longstanding tradition of creating good jobs and respecting workers’ rights, including expecting Intel to neither hold mandatory captive audience meetings nor hire anti-union consultants.

The announcement today also includes significant funding to train and develop the local workforce, including $50 million in dedicated CHIPS funding. The focus of this funding will be further determined in the coming months based on the Department of Commerce’s labor and workforce priorities in partnership with the Department of Labor. Those priorities include funding workforce intermediaries and labor-management partnerships, promoting inclusive and equitable training and hiring across the construction and facilities workforces, and providing supportive services, such as child care. Intel’s construction spending is contributing to union apprentice programs across all four sites—expected to amount to over $150 million in apprenticeship contributions. Additionally, Intel has committed to providing affordable, accessible, high-quality child care for its workers across its facilities. Intel will be increasing the reimbursement amount and duration for its back-up care program, adding additional access to discounted primary child care providers, and expanding access to a vetted network of child care providers for its employees. In addition, Intel will pilot a primary child care reimbursement program for non-salary employees.
 

Strengthening Local Economies

Today’s announcement is also poised to strengthen the local economies of these states and cities, and is part of the President’s commitment to investing in all of America and leaving no community behind. Intel’s investments in Arizona and Ohio are among the largest private-sector investments in each state’s history, and Arizona has received the highest level of private sector manufacturing investment per capita of any state since the President took office. Intel’s investment in Arizona is expected to create tens of thousands of indirect jobs across suppliers and supporting industries – on top of the nearly 30,000 manufacturing and construction jobs it will create, fostering a more resilient semiconductor supply chain in the U.S.

In Arizona, Intel’s investments have grown the surrounding community, attracting opportunities for professional growth and upward economic mobility for everyone – from graphic designers to restaurants and small businesses. And in Ohio, Intel continues expanding their partnerships with local businesses to support their construction projects and operations at other facilities – growing from 150 Ohio-based suppliers in 2022 to over 350 today. 

Intel has also prioritized sustainability and being responsible stewards of the environment at its facilities. It currently uses 100% renewable electricity in its fabs and factories in the United States, and plans to achieve net-positive water and zero waste to landfill by 2030.

Building on Historic Progress Under the CHIPS and Science Act

Today’s announcement is the fourth and largest preliminary memorandum of terms (PMT) under the CHIPS and Science Act:

  • In February 2024, the Biden-Harris Administration announced $1.5 billion for GlobalFoundries to support the development and expansion of facilities in Malta, NY, and Burlington, VT.
    • In January 2024, the Administration announced $162 million for Microchip Technology Inc. to increase its production of microcontroller units and other specialty semiconductors, and to support the modernization and expansion of fabrication facilities in Colorado Springs, CO, and Gresham, OR. 
    • In December 2023, the Administration announced $35 million for BAE Systems Electronic Systems to support the modernization of the company’s Microelectronics Center in Nashua, NH. This facility will produce chips that are essential to our national security, including for use in F-35 fighter jets.

President Biden’s Investing in America agenda – including the CHIPS and Science Act – is spurring a manufacturing and clean energy boom. Since President Biden took office, companies have announced over $675 billion in private sector investments in manufacturing and clean energy, and over 50,000 infrastructure and clean energy projects are underway. This announcement is part of the President’s broader commitment to build an economy from the middle out and bottom up, not the top down, and invest in all of America. 

Biden Administration, Economic Development, Economic Policies, Economy, Joe Biden, News & Photo Features, President Joe Biden

FACT SHEET: The American Rescue Plan (ARP): Top Highlights from 3 Years of Recovery

  1. Led to the Strongest Jobs Recovery on Record and the Strongest Recovery in the World: When President Biden came into office, there was tremendous economic uncertainty. Unemployment was at 6.4% when President Biden took office. Unemployment was not projected to drop below 4% until the end of 2025 in CBO’s February 2021 (Pre-ARP) Forecast. Instead, unemployment was below 4% for the past 25 months in a row – the strongest record in more than five decades. 
    1. ARP drove historic 3-year job growth with 15 million jobs added since President Biden took office.
    1. Not only recovered all the lost jobs but added an additional 5.5 million more jobs versus pre-Covid.
    1. Powered the strongest recovery in the world: After the American Rescue Plan passed, the U.S. saw by far the fastest recovery in the G7, with significantly higher real wage growth. US has lower apples to apples core inflation than all major European allies.
    1. Powered the Most Equitable Recovery in Memory: In past recessions, persistent high long-term and youth unemployment as well as high numbers foreclosures and evictions led to long-term harms – “scarring” for millions of Americans and hard, long roads back for Black and Latino Americans. President Biden’s Rescue Plan ensured that didn’t happen this time:
    1. Historic drops in unemployment for Black and Latino workers: With the strong recovery powered by ARP, Black unemployment saw its largest 1-year drop since the early 1980s and reached its lowest-ever annual rate in 2023; Hispanic unemployment saw its fastest 1-year drop and reached its lowest 2-year rate ever in 2022 & 2023.  
    1. Least scarring in any recovery in memory: The American Rescue Plan led to the fastest drop in long-term and youth unemployment ever. It kept foreclosures historically low and evictions 20% below historic avgs.
    1. Led to dramatic reduction in inequality: Economists have found that the strong post-ARP labor market’s wage increases for middle-income and lower-income workers erased nearly 40% of the rise in wage inequality increases from the previous four decades.
    1. Lowest women’s annual unemployment rate since 1953: This recovery has seen a dramatic decline in women’s unemployment to an average of 3.5% in 2023, the lowest annual average since 1953.
    1. Strong recovery for Asian American, Pacific Islander, and Native Hawaiian communities: Asian American unemployment averaged 2.9% over the last two years and AA NHPI small business formation surged. Native Hawaiian and Pacific Islander unemployment also fell by half from a 9% avg. in 2020 to 4% in 2022-2023.
    1. Led to the Largest Federal Investments in Preventing Crime, Reducing Violence, and Investing in Public Safety in History. Since the passage of the American Rescue Plan, we’ve had the largest federal investment in advancing public safety and preventing violence in our history through ARP funding and other federal funding.
    1. Over $15 billion in ARP funds committed to preventing crime and reducing violence, with investments by over 1,000 state and local governments to avoid cuts to police budgets, hire more police officers for safe, effective, and accountable community policing, ensure first responders have the equipment they need to do their jobs, and expand evidence-based community violence intervention and prevention programs.
    1. That includes $1.2 billion for Medicaid Mobile Crisis Intervention Services – the American Rescue Plan included $1.2 billion to fund mobile crisis intervention units staffed with mental health professionals & trained peers. 
    1. It also includes $1 billion in Family Violence Prevention and Services Program to reduce domestic violence with immediate crisis intervention, health supports, and safety.
    1. American Rescue Plan’s Expansion of the Affordable Care Act Led to Record-Breaking Health Care Enrollment and Savings: ARP substantially increased consumer subsidies, eligibility to middle-income families and provided strong incentives for states to expand Medicaid through the Affordable Care Act. Result:
    1. ARP/IRA-extended ACA extension led to over 21 million Americans enrolling in coverage, an increase of 9 million from when POTUS took office.
    1. Thanks to the American Rescue Plan and Inflation Reduction Act, millions of Americans are saving an average of $800 a year on premiums. The Biden-Harris Administration is committed to keeping health insurance premiums low, giving families more breathing room and the peace of mind that health insurance brings. To do that, the President is calling on Congress to make the expanded premium tax credits that the Inflation Reduction Act extended permanent.
    1. Provided health coverage to 3 million Americans who would have otherwise had no health insurance.
    1. Provided affordable health coverage to millions of middle-class Americans who were previously excluded from receiving consumer subsidies.
    1. Provided more than $3 billion in Medicaid funding to North Carolina, Missouri, Oklahoma, and South Dakota for Medicaid expansion, covering over one million people.
    1. Gave states an easier pathway to extend Medicaid postpartum coverage for a full 12 months – ensuring access to critical care for nearly 700,000 women in 45 states and the District of Columbia.
    1. Largest Small Business Boom in History Due to ARP-Driven Strong Recovery and Small Business Investments: The Biden-Harris Administration:
    1. Increased COVID EIDL to $2 million while increasing anti-fraud controls.
    1. Reformed PPP to more equitably distribute funds to the smallest businesses.
    1. Restaurant Revitalization Fund helped over 100,000 restaurants, bars, and food trucks stay open.
    1. Shuttered Venues Program provided relief to 13,000 venues.
    1. Invested a historic $10 Billion in the State Small Business Credit Initiative leveraging up to $100 billion in capital for small businesses.
    1. Invested in innovative Community Navigators program that delivered training to over 350,000 entrepreneurs and 1:1 counseling services to over 33,000 small business owners
    1. Invested $125 million through the Capital Readiness Program to 43 non-profit community-based organizations to help underserved entrepreneurs launch and scale their small businesses – winners ranged from Asian/Pacific Islander Chamber of Commerce to Urban League of Greater Atlanta.
      This, and the strong recovery that ARP powered, led to:
    1. A record 16 million new business applications over the past 3 years; 55% higher than year before pandemic.
    1. Share of Black households owning a business has more than doubled, and Latino and Asian American, Native Hawaiian, and Pacific Islander small business formation surged as well.  
    1. Women-owned businesses formation substantially outpaced overall business formation.
    1. Led to Lowest Child Poverty Rate in American History: The American Rescue Plan expanded the Child Tax Credit, made it fully refundable, and delivered it monthly in 2021. This historic expansion drove:
    1. Child poverty cut nearly in half to lowest rate ever.
    1. Black child poverty cut by over 50%, Hispanic child poverty cut by 43%, and dramatic drops in Native American, white and Asian American, Native Hawaiian, and Pacific Islander child poverty—all record lows.
    1. Over 9 million children in rural areas benefited from the expanded credit.
    1. 5 million children in Veteran and active-duty families benefited from the expanded credit.
    1. Child Tax Credit payments were delivered reliably with the first ever monthly payment – on the 15th of each month with 90% using direct deposit.
    1. Over 60 million children in 40 million working families received largest Child Tax Credit in history.
    1. Historic expansion to ~240,000 Puerto Rican families: For the first time, ARP permanently made Puerto Rican families eligible for the same Child Tax Credit as other American families. ARP also quadrupled funding available for Puerto Rico’s Earned Income Tax Credit.
    1. Funded a Historic Vaccination Campaign: ARP provided $160 billion to support vaccination, therapeutics, testing and mitigation, PPE, and the broader COVID Response effort. This led to:
    1. Over 230 million Americans are fully vaccinated, up from 3.5 million when President Biden took office, while closing the racial gap in vaccine access.
    1. First-Ever National Eviction Policy Called “The most important eviction prevention policy in American history.” 
    1. Emergency Rental Assistance and other American Rescue Plan assistance helped over 8 million hard-pressed renters stay in their homes without sacrificing other basic needs.  
    1. Emergency Rental Assistance and Other ARP housing policies cut eviction filings to 20% below historic averages since start of Biden-Harris Administration.
    1. Called the “the most important eviction prevention policy in American history” by Matthew Desmond, Pulitzer Prize Winner author of “Evicted” – and the “deepest investment the federal government has made in low-income renters since the nation launched its public housing system.”
    1. HUD Emergency Housing Vouchers have already helped 47,500 households at risk of homelessness lease their own rental housing – supporting those at risk of or experiencing homelessness or housing instability, and those fleeing domestic violence.
    1. Helped Keep Over 225,000 Child Care Programs Open and Provided Historic Nationwide Support for Medicaid Home-Based Care
    1. American Rescue Plan Stabilization Assistance has reached over 225,000 Child Care Providers – that employ 1 million child care workers – and have the capacity to serve as many as 10 million children.
    1. Led to lower child care costs by $1,250 per child, helped bring hundreds of thousands of women with young children into the workforce, and increased wages for child care workers by 10%, according to Council of Economic Advisors Report.
    1. More than 8-in-10 licensed child care centers nationwide received ARP assistance.
    1. Benefited 30,000 rural child care programs – in most states, 97% of rural counties or more received aid.
    1. Invested $37 billion to expand access to home-based care and support direct care workers: Thanks to the American Rescue Plan, President Biden delivered $37 billion that all 50 states and the District of Columbia chose to invest to expand access to home care and improve the quality of caregiving jobs.
    1. Investing in ALL of America:
    1. For First Time in History, Direct Relief to Every Town, City, County, Tribe and State – No Matter How Big or Small, Urban or Rural – So they Could Design their Own Recovery:
    1. Before ARP, 70% of cities forecasted layoffs or major cuts in services and half of states were freezing or cutting jobs. Today, cities and states have funds to invest in major challenges – like public safety, housing, workforce, and rehiring, instead of making dramatic cuts.
    1. ARP provided direct fiscal relief to every state & territory and 30,000 cities and towns – while previous plans reached only 154 local governments or fewer. This has led to:
    1. Immediately reversed planned layoffs in cities and states across the country – and helped drive a recovery of 1.3 million state and local jobs, recovering all of the state and local jobs lost in roughly one-third the time it took to recover state and local jobs after the Great Recession.
    1. Major investments in critical areas:
      1. $25 billion to jumpstart universal broadband access – including Broadband Connections for 18 million students through the Emergency Connectivity Fund so that schools and libraries could close the homework gap.
      1. $12.8 billion in State & Local Funds invested in over 4,300 workforce investments by state and local governments.
      1. Over $20 billion in State & Local Funds invested in water infrastructure.
      1. $18.5 billion in State & Local Funds invested in housing – expanding supply, investing in homeless services, and providing 3.7 million additional households rent, mortgage, and utility relief.
         
    1. Largest Ever Investment in Tribal Communities
    1. ARP provided largest one-time investment in Tribal communities in history – providing more than $32 billion specifically allocated for Tribal communities and Native people, including $20 billion in Fiscal Recovery Funds that were quickly and directly distributed to Tribal governments in 2021 to stabilize Tribal economies devastated by the pandemic.
    1. Invested in first-ever Tribal Small Business Credit Initiative Awards.
    1. Focus on Tribal Communities in Place-Based grants including $45 million Build Back Better Regional Challenge (BBB-RC) grant to the Mountain Plains Regional Native CDFI Coalition to grow the Native finance sector and expand economic opportunity.
       
    1. Investing in Rural America: Innovative rural-focused investments include:
    1. ARP provided direct fiscal recovery funding to every single rural government so that they could avoid painful layoffs and design their own recovery. Past recovery bills only sent direct fiscal relief to largest cities.
    1. ARP Child Care Stabilization Reached 30,000 rural child care programs – in most states, 97% of rural counties or more received aid.
    1. USDA invested $1 billion to expand independent meat and poultry processing capacity to give farmers more market options and fairer prices, and reduce reliance on a handful of meat and poultry corporations.
    1. Rural unemployment rates in 2023 were at their lowest point (3.6 percent) since before 1990.
    1. Full rural jobs recovery: Rural employment has returned fully to pre-COVID levels.
    1. Major Investment in Workforce Training and Connecting Americans to Good Jobs:
    1. Tens of billions from the American Rescue Plan have gone to workforce training efforts, including $12.8 billion in State and Local Funds invested in over 4,300 workforce investments across the country, including pre-apprenticeships and other programs to prepare for new infrastructure, health care & care jobs.
    1. $500 million in competitive Good Jobs Challenge Awards for 32 Workforce High-Quality Training Partnerships across the country.
    1. $1 billion Competitive Build Back Better Regional Challenge – 21 Winners won between $25 million and $65 million to execute transformational projects and revitalize local industries. Projects include developing workforce training programs, connecting workers to jobs, and other transformational investments.
    1. Historic investment in expanding and supporting our health care workforce, including:
       
    1. $1.1 billion investment in the community health workforce, including in mental health workforce.
    1. Rapid deployment of 14,000+ community outreach workers (in 150+ national & local organizations). For example, the Association of Asian/Pacific Community Health Organizations used American Rescue Plan funds to establish the CHW Workforce Collaborative (the Collaborative). The Collaborative has since hired, trained, and deployed more than 250 CHWs who speak over 36 Asian, Native Hawaiian and Pacific Islander languages in 12 continental U.S. states and Hawaii.
    1. Establishment of the first-of-its-kind public health AmeriCorps to build and train the next generation of public health leaders, already serving 82 organizations across the country and supporting more than 3,000 AmeriCorps members.
    1. Supporting the largest field in history (over 22,700 providers) for the National Health Service Corps, Nurse Corps, and Substance Use Disorder Treatment and Recovery programs, treating more than 23.6 million patients in underserved communities.
    1. Provided recovery funding for more than 15,000 School Districts to Safely Reopen K-12 Schools, Support Academic Recovery, and Invest in Student Mental Health:
    1. ARP provided critical relief to more than 15,000 school districts to reopen safely, support academic recovery, and invest in student mental health.
    1. Data from school district plans show that schools are using these funds well, focusing on efforts to support academic recovery:
      1. Nearly 60% of funds are committed to investments like staffing, tutoring, afterschool and summer learning programs, new instructional resources and materials, and mental and physical health supports.
      1. Another 23% is going to keep schools operating safely, including providing PPE and updating school facilities. This includes investments in lead abatement and nearly $10 billion for HVAC.
      1. Nearly half of school districts invested in summer learning programs which proven to boost math scores.

     This has led to:

  • Going from 46% of schools that had safely opened to full-time in-person teaching to 100%: In January 2021, CDC data showed that just 46% of schools were open full-time in-person. Today, all schools are open.
    • Led to a major increase in staffing and investments to address student mental health: Schools now employ 31% more school social workers and 31% more school nurses than pre-pandemic. School districts have added more than 600,000 local education jobs since January 2021 and recovered to pre-pandemic levels.
    • Eighteen Million College Students Have Received Direct Financial Assistance from the Higher Education Emergency Relief Fund that was expanded by ARP:
    • Colleges reached an estimated 18 million students with direct financial assistance from the Higher Education Emergency Relief (HEERF) fund since the beginning of 2021.
    • Direct financial assistance for an estimated 6 million community college students.
    • 80% of Pell Grant recipients received direct financial relief in 2021.
    • An estimated 450,000 students at Historically Black Colleges and Universities (HBCUs) received direct financial assistance. In 2021, 77% of HBCUs used HEERF funds to discharge unpaid student balances.
    • Historic Investment in Pension Security for up to 3 million Union workers & retirees: ARP’s Special Financial Assistance is the most significant investment in pension security for union workers and retirees in the past 50 years.
    • Over 200 multiemployer plans that were on pace to become insolvent in the near term will now have solvency and able to pay full benefits until at least 2051.
    • Preventing a wave of multi-employer insolvencies for 2-3 million workers who would have seen major cuts to their earned retirement benefits.
    • Pension cuts reversed for over 80,000 workers and retirees in 18 “MPRA” multiemployer plans
    • Most significant effort to protect the solvency of the multiemployer pension system in almost 50 years.
    • First-Ever Summer Nutrition Benefit for Students w/ Nationwide Reach – Extended Permanently:
    • ARP created the first-ever summer nutrition benefit with nationwide reach, helping children who rely on free and reduced-price school meals afford food over the summer.
    • 30 million young people: Reached the families of 30 million students.

Permanent: Congress extended this innovative program permanently in 2022’s Omnibus bill, the first major new permanent food assistance program in nearly five decades

Biden Administration, Economic Development, Economic Policies, Economy, Joe Biden, Manufacturing

FACT SHEET: Biden Takes New Actions to Strengthen America’s Supply Chains, Lower Costs for Families, and Secure Key Sectors

During the inaugural convening of the new White House Council on Supply Chain Resilience, President Biden will unveil more than 30 new actions to strengthen America’s supply chains

As part of his Bidenomics agenda to lower costs for American families, President Biden announced nearly 30 new actions to strengthen supply chains critical to America’s economic and national security. These actions will help Americans get the products they need when they need them, enable reliable deliveries for businesses, strengthen our agriculture and food systems, and support good-paying, union jobs here at home. Among the actions: the USDA is investing $196 million to strengthen our domestic food supply chains and create more opportunity for farmers and entrepreneurs in 37 states and in Puerto Rico. These investments—which build on prior investments in diversified food processing, resilient agricultural markets, and fertilizer production—expand farmer income opportunities, create economic opportunities for people and businesses in rural areas, and lower food costs. © Karen Rubin/news-photos-features.com

You don’t hear anything about it because 1) it’s lots of facts and figures and 2) the nonstop criminality, latest court craziness of Trump and his scheme to become a dictator are dominating news. But the collapse of supply chains during the COVID pandemic was the biggest reason for triggering inflation, and the Biden administration focus to develop Made in America manufacturing and reduce dependency on foreign production is one of the biggest factors in reducing costs for Americans (despite greed-based price hikes). Here’s a Fact sheet from the White House:

As part of his Bidenomics agenda to lower costs for American families, President Biden is announcing nearly 30 new actions to strengthen supply chains critical to America’s economic and national security. These actions will help Americans get the products they need when they need them, enable reliable deliveries for businesses, strengthen our agriculture and food systems, and support good-paying, union jobs here at home.

President Biden announced these actions alongside members of his Cabinet and other senior Administration officials at the inaugural meeting of the new White House Council on Supply Chain Resilience. The Council, which President Biden established, will support the enduring resilience of America’s critical supply chains.

Robust supply chains are fundamental to a strong economy. When supply chains smooth, prices fall for goods, food, and equipment, putting more money in the pockets of American families, workers, farmers, and entrepreneurs. That is why President Biden made supply chain resilience a priority from Day One of his Administration—including by signing an Executive Order on America’s Supply Chains and establishing a Supply Chain Disruptions Task Force that worked with states, Tribes, local governments, businesses, family farms, labor, and allies and partners to address the acute supply chain crises caused by the pandemic. Since then, the Administration has made historic investments to strengthen supply chains and prevent future disruptions by expanding production capacity in key sectors and building infrastructure through the CHIPS and Science Act, the Inflation Reduction Act, and the Bipartisan Infrastructure Law.

These efforts helped unsnarl supply chains, re-normalize the flow of goods, and lower inflation. From October 2021 to October 2023, supply chain pressures as measured by the New York Fed declined from near-record highs to a record low, helping lower inflation, which has fallen by 65% from its peak.

Today, President Biden is building on this progress by announcing bold new actions to further strengthen supply chains, lower costs for families, and help Americans get the goods they need, including:

  • The creation of the Council on Supply Chain Resilience. Today, President Biden will convene the inaugural meeting of the White House Council on Supply Chain Resilience, which will advance his long-term, government-wide strategy to build enduring supply chain resilience. The Council will be co-chaired by the National Security Advisor and National Economic Advisor, and include the Secretaries of Agriculture, Commerce, Defense, Energy, Health and Human Services, Homeland Security, Housing and Urban Development, the Interior, Labor, State, Transportation, the Treasury, and Veterans Affairs; the Attorney General; the Administrators of the Environmental Protection Agency and the Small Business Administration; the Directors of National Intelligence, the Office of Management and Budget, and the Office of Science and Technology Policy; the Chair of the Council of Economic Advisers; the U.S. Trade Representative; and other senior officials from the Executive Office of the President and other agencies.
     
  • Use of the Defense Production Act to make more essential medicines in America and mitigate drug shortages. President Biden will issue a Presidential Determination to broaden the Department of Health and Human Services’ (HHS) authorities under Title III of the Defense Production Act (DPA) to enable investment in domestic manufacturing of essential medicines, medical countermeasures, and critical inputs that have been deemed by the President as essential to the national defense. HHS has identified $35 million for investments in domestic production of key starting materials for sterile injectable medicines. HHS will also designate a new Supply Chain Resilience and Shortage Coordinator for efforts to strengthen the resilience of medical product and critical food supply chains, and to address related shortages. HHS intends to institutionalize this coordination to advance the department’s supply chain resilience and shortage mitigation goals over the long term. The Department of Defense (DOD) will also soon release a new report on pharmaceutical supply chain resilience aimed at reducing reliance on high-risk foreign suppliers. These actions are a subset of the Administration’s broader work to increase access to essential medicines and medical products.
     
  • New cross-governmental supply chain data-sharing capabilities. The Administration has developed several cross-government partnerships to improve supply chain monitoring and strategy, including:
    • The Department of Commerce’s new, first-of-its-kind Supply Chain Center is integrating industry expertise and data analytics to develop innovative supply chain risk assessment tools, and is coordinating deep-dive analyses on select critical supply chains to drive targeted actions to increase resilience. This Center is building broad partnerships across government, industry, and academia, including collaborating with the Department of Energy (DOE) to conduct deep-dive analyses on clean energy supply. Additionally, Commerce is partnering with HHS to assess industry and import data that can help address foreign dependency vulnerabilities and points of failure for critical drugs.
    • The Department of Transportation’s (DOT) Freight Logistics Optimization Works (“FLOW”) program is a public-private partnership that brings together U.S. supply chain stakeholders to create a shared, common picture of supply chain networks and facilitate a more reliable flow of goods. DOT is announcing a new milestone for FLOW, in which participants are beginning to utilize FLOW data to inform their logistics decision making, helping to avoid bottlenecks, shorten lead times for customers, and enable a more resilient and globally competitive freight network through earlier warnings of supply chain disruption. As the effort continues to mature, DOT will work with the Department of Agriculture (USDA) to increase data transparency for containerized shipments of agricultural products in the United States, efforts that can help producers and sellers avoid disruptions that can increase food prices.
    • These new analytical capabilities will enable the Council to coordinate a more complete, whole-of-government critical supply chain monitoring function.

Additional actions to support stronger supply chains and access to affordable, reliable energy and critical technology:

Investing in critical supply chains:

  • DOE today announced $275 million in grant selections for its Advanced Energy Manufacturing and Recycling Grant Program, investments that will revitalize communities affected by coal mine or coal power plant closures through investment in clean energy supply chains, including production of critical materials, components for grid-scale batteries and electric vehicles, onshore wind turbines, and energy conservation technologies. DOE also announced up to $10 million of funding for a “critical material accelerator” and a $5.6-million prize to develop circular clean energy supply chains. These efforts build on action by President Biden to authorize DOE’s use of the DPA to increase domestic production of five key clean energy technologies—including electric heat pumps—as well as DOE’s recently announced $3.5-billion investment through the Bipartisan Infrastructure Law to boost domestic production of advanced batteries and battery materials needed for essential clean energy technologies such as stationary storage and electric vehicles.
  • USDA is making investments worth $196 million to strengthen our domestic food supply chains and create more opportunity for farmers and entrepreneurs in 37 states and in Puerto Rico. These investments—which build on prior investments in diversified food processing, resilient agricultural markets, and fertilizer production—expand farmer income opportunities, create economic opportunities for people and businesses in rural areas, and lower food costs.
  • DOD, building on the $714 million in DPA investments it has made in 2023 to support defense-critical supply chains, will publish the first ever National Defense Industrial Strategy (NDIS). The NDIS will guide engagement, policy development, and investment in the defense industrial base over the next three to five years. It will ensure a coordinated, whole-of-government approach to and focus on the multiple layers of suppliers and sub-suppliers that make up these critical supply chains.

Planning for long-term industrial resilience and future supply chain investments:

  • Launch of the quadrennial supply chain review. The Council will complete the first quadrennial supply chain review by December 31, 2024. As part of the review, the Council will update criteria on industries, sectors, and products defined as critical to national and economic security. In addition, 12 months after the Council promulgates the criteria, and annually thereafter, the Council will apply the criteria to review and update the list of critical sectors, as appropriate.
  • Smart manufacturing plan. DOE’s Office of Energy Efficiency and Renewable Energy (EERE) Advanced Materials and Manufacturing Technologies Office (AMMTO) is sponsoring a study by the National Academies of Science, Engineering, and Medicine to develop a nationwide plan for smart manufacturing. The report will establish key priorities for investment to support new digital and artificial intelligence technologies. These investments will enhance the productivity and security of the manufacturing systems that are critical for maintaining domestic supply chains.

Deploying new capabilities to monitor existing and emerging risks:

  • New Resilience Center and tabletop exercises for supply chain disruptions. The Department of Homeland Security (DHS) is announcing the launch of a new Supply Chain Resilience Center (SCRC), which will be dedicated to ensuring the resilience of supply chains for critical infrastructure needed to deliver essential services to the American people. Near-term priorities will include addressing supply chain risks resulting from threats and vulnerabilities inside U.S. ports. Additionally, in 2024, in collaboration with other federal agencies and foreign governments, DHS will facilitate at least two tabletop exercises designed to test the resilience of critical cross-border supply chains. Further, DHS and the Department of Commerce will collaborate to continue to strengthen the semiconductor supply chain and further the implementation of the CHIPS and Science Act.
  • Launch of DOT Multimodal Freight Office. As part of the Bipartisan Infrastructure Law (“BIL”) implementation, DOT is launching its Office of Multimodal Freight Infrastructure and Policy (“Multimodal Freight Office”). This office is responsible for maintaining and improving the condition and performance of the nation’s multimodal freight network including through the development of the National Multimodal Freight Network, review of State Freight Plans, and the continued advancement of the FLOW initiative in partnership with the Bureau of Transportation Statistics.
  • Monitoring of climate impacts. The White House National Security Council, Office of Science and Technology Policy, and the Council of Economic Advisers will co-lead an interagency effort in partnership with the National Oceanic and Atmospheric Administration to monitor global developments related to El Niño, including this climate phenomenon’s impact on U.S. and global commodity prices, agriculture and fishery output, disruptions to global and trade supply chains, and resulting impacts on food security, human health, and social instabilities.
  • Energy and critical mineral supply chain readiness. To more consistently track risk and opportunity across energy supply chains, DOE is developing an assessment tool that accounts for raw materials, manufacturing, workforce, and logistics considerations. Additionally, to help assess the potential for trade disruptions of select critical minerals and materials, the Department of the Interior’s U.S. Geological Survey (USGS) will map and develop geospatial databases for select global critical product supply chains, with a current focus on semiconductor components; and will seek designation by the Chief Statistician of the United States of a federal statistical unit providing the nation’s official minerals statistics. Additionally, the National Science and Technology Council’s Critical Minerals Subcommittee plans to launch a new criticalminerals.gov website in January 2024 that will highlight cross-governmental supply chain efforts.
  • Defense supply chain mapping and risk management. DOD is increasing supply chain visibility through the creation of a Supply Chain Mapping Tool to analyze supplier data for 110 weapon systems. This capability will be used to develop defense industrial base wargaming scenarios to identify vulnerabilities and develop mitigation strategies.

Engaging public and private stakeholders to expand supply chain risk modeling:

  • Supply Chain Data and Analytics Summit. The Department of Commerce will convene a diverse array of public and private stakeholders at a Supply Chain Data and Analytics Summit in 2024. A key aim of the summit will be to invite expert input into supply chain risk assessment models and tools. The summit will also assess data availability, utility, and limitations and consider actions to improve data flows.
  • AI hackathons to strengthen critical mineral supply chains. USGS, the Defense Advanced Research Projects Agency (DARPA), and the Advanced Research Projects Agency-Energy (ARPA-E), building on their 2022 prize challenges announcement, will host a series of hackathons beginning in February 2024 to develop novel artificial intelligence approaches to assess domestic critical mineral resources.
  • Risk mapping for labor rights abuses. The Department of Labor (DOL) updated its Comply Chain guidance for identifying and addressing labor rights violations in global supply chains. In addition, DOL is providing $8 million for two four-year projects to identify supply chain traceability methods and technologies to address child labor or forced labor risks in diverse supply chains, such as the cobalt and cotton sectors. DOL will also undertake new supply chain research on mining and agriculture products across Asia, Africa, and Latin America.

In addition to the announcements above, the Administration continues to deepen engagement with allies and partners to strengthen global supply chains, including:

Deepening international early warning systems to detect and respond to supply chain disruptions in critical sectors with allies and partners, including:

  • With the European Union. In May 2023, the United States and the EU established an early warning system for semiconductor supply chain disruptions under the U.S.-EU Trade and Technology Council.
  • With Japan and the Republic of Korea. In August, the United States, Japan, and the Republic of Korea committed at Camp David to launch early warning system pilots, starting by identifying priority products and materials such as critical minerals and rechargeable batteries and establishing mechanisms to rapidly share information on disruptions to critical supply chains.
  • With Mexico and Canada. Through the United States-Mexico-Canada Agreement (USMCA), the United States, Canada, and Mexico established a trilateral Sub-Committee on Emergency Response to coordinate North American efforts to maintain regional trade flows during emergency situations.
  • With Australia, Canada, the European Union, Japan, the United Kingdom, and the World Health Organization. The Global Regulatory Working Group on Drug Shortages, currently chaired by the U.S. Food and Drug Administration, meets quarterly to discuss product shortages participating jurisdictions are encountering and ways such shortages are being addressed. The group’s exchange of information helped address product shortages experienced by each partner during the COVID-19 pandemic and subsequent “tripledemic” including COVID-19, influenza, and respiratory syncytial virus.
  • With global partners. Through the President’s Emergency Plan for Adaptation and Resilience (PREPARE), the U.S. government funds activities to improve the weather, water, and climate observing capabilities and data sharing in regions and countries that are needed to produce actionable local, regional, and global climate information and minimize impacts upon infrastructure, water, health, and food security.

Strengthening global supply chains through other innovative multilateral partnerships:

  • Indo-Pacific Economic Framework for Prosperity (IPEF) Supply Chain Agreement. The United States and 13 IPEF partners concluded a first-of-its-kind Supply Chain Agreement that gives partners new tools to build diversified, competitive supply chains for critical sectors, including an IPEF Supply Chain Council to coordinate action. The Department of Commerce is kickstarting this effort through pilot projects to enhance the resilience of key supply chains, including those related to semiconductors, critical minerals, and cold chain services. In addition, the Supply Chains Agreement establishes a Crisis Response Network that will allow IPEF partners to better prepare for and respond to supply chain disruptions through emergency communication channels and joint crisis simulations, as well as a Labor Rights Advisory Board to promote worker rights across supply chains.
  • Americas Partnership for Economic Prosperity (Americas Partnership). The Americas Partnership is focused on, among other things, strengthening and diversifying supply chains. In its first year of work, the Americas Partnership will focus on the development of regional competitiveness plans in three critical sectors: semiconductors, clean energy, and medical supplies.
  • North American Leaders’ Summit (NALS). Through NALS, the United States, Canada, and Mexico are enhancing the resilience of North America’s supply chains for critical minerals, semiconductors, and other essential goods. This trilateral effort includes partnering with regional industry and academia to create quality jobs, promote investment, grow talent, and catalyze innovation.
  • Partnership for Global Infrastructure and Investment (PGI). Through PGI, the United States is mobilizing public and private financing to incentivize investments and develop transformative economic corridors to diversify global supply chains and create new opportunities for American workers and businesses. From the development of the Lobito Corridor, connecting the Democratic Republic of the Congo and Zambia with global markets through Angola, to the launch of the landmark India-Middle East-Europe Economic Corridor—through PGI, the United States is creating novel interconnections across regions to facilitate trade and secure clean energy, digital, food security, and other critical supply chains.
  • Global Labor Directive. On November 16, President Biden signed the Presidential Memorandum on Advancing Worker Empowerment, Rights, and High Labor Standards Globally. The President directed several departments to address labor rights abuses in global supply chains and identify innovative approaches to promote internationally recognized labor rights throughout the supply chain, including by collaborating with labor organizations, workers, and other labor stakeholders to consider efforts that support worker-led monitoring of labor rights compliance.
  • The Mineral Security Partnership (MSP). The Department of State, along with partners including Australia, Canada, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, and the European Union (represented by the European Commission), established the MSP to accelerate the development of diverse and sustainable critical energy minerals supply chains. The MSP works with host governments and industry to facilitate targeted financial and diplomatic support for strategic projects along the value chain with an emphasis on those projects which adhere to and promote the highest labor, environmental and sustainability standards.
  • International Technology Security and Innovation (ITSI) Fund. Created by the CHIPS and Science Act of 2022, the ITSI Fund promotes the diversification of the global semiconductor supply chain. State will partner with countries to develop the most attractive economic environments for private investment. With ITSI Fund support, the Organization of Economic Cooperation and Development has established the Semiconductor Exchange Network allowing policymakers in the semiconductor industry to examine risks and interdependencies on the current state of the semiconductor ecosystem. Additionally, the ITSI Fund is supporting ecosystem reviews in key partner countries that will inform future collaboration on developing this critical sector.
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FACT SHEET: G20 Leaders Agree to Partnership for Global Infrastructure and Investment

At the 2023 G20 Summit in New Delhi, India, President Biden and Prime Minister Modi co-hosted a group of G20 leaders to accelerate investments to scale high-quality infrastructure projects and the development of economic corridors through the Partnership for Global Infrastructure and Investment (PGI).
 
The meeting of the leaders from the United States, European Union (EU), France, Germany, India, Italy, Japan, Mauritius, the United Arab Emirates, Saudi Arabia, and the World Bank demonstrated the collective urgency to make meaningful progress in narrowing the infrastructure gap in low- and middle-income countries to enable inclusive and sustainable growth and promote economic activity and prosperity.

To further scale this work, the United States will continue to leverage public capital to mobilize private sector investments and collaborate with partners to develop agile and flexible relationships that directly respond to our partners’ needs, laying the groundwork to create more security, prosperity, and opportunities for generations to come.
 
Across the world, from Asia to Africa to the Western Hemisphere, PGI will continue to build and strengthen coalitions of partners — governments, the private sector, and multilateral development banks — to develop key economic corridors and drive high-quality investments.  
 
President Biden announced a range of new projects to generate economic growth, incentivize new investments, and create quality jobs. They include a landmark India-Middle East-Europe Economic Corridor, as well as a partnership with the European Union to join the United States in supporting the expansion of the Lobito Corridor, and new PGI projects in a range of sectors and across regions.
 
Developing Key Economic Corridors
Launch of the Landmark India-Middle East-Europe Economic Corridor: Earlier this year, President Biden outlined his vision to develop economic corridors by strategically layering transformative investments across multiple sectors in countries to leverage broader effects of boosting economic development, securing supply chains, and bolstering regional connectivity. Today, the leaders of the United States, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union announced a new India-Middle East-Europe Economic Corridor . The transformative partnership has the potential to usher in a new era of connectivity from Europe to Asia with a railway, linked through ports, connected by the Middle East. This will create novel interconnections to facilitate global trade, expand reliable access to electricity, facilitate clean energy distribution, and strengthen telecommunications links.  The founding partners intend to work with international partners and the private sector to:

  • Connect India to Europe—linked by a railway line and existing ports through the UAE, Saudi Arabia, Jordan, and Israel—that will generate economic growth while incentivizing new investments and the creation of quality jobs;
     
  • Connect two continents to commercial hubs and facilitate the development and export of clean energy;
     
  • Support existing trade and manufacturing synergies and strengthen food security and supply chains; and
     
  • Link energy grids and telecommunication lines through undersea cables to expand reliable access to electricity, enabling innovation of advanced clean energy technology and connect communities to secure and stable Internet.

Further development of the Lobito Corridor:  Since President Biden announced investments to develop the Lobito Corridor in May 2023, the United States and its partners are advancing efforts to support a transparent and developed critical minerals sector that can both diversify the global electric vehicle supply chain and benefit local economies. The Corridor serves as an important economic link connecting both the continent and the Democratic Republic of Congo and Zambia through the Lobito port in Angola. Once transport infrastructure connecting all three countries is fully operational, the Corridor aims to enhance export possibilities, boost the regional circulation of goods, and promote the mobility of citizens. Specific new announcements include:

  • Today, the European Union officially teamed up with the United States to support the development of the Corridor, including supporting the African Governments in launching feasibility studies for the construction of a new greenfield rail line expansion from eastern Angola through northern Zambia.  
     
  • Together, the United States and the European Union intend to explore cooperation in the areas of transport infrastructure investments; measures to facilitate trade, economic development and transit; and support to related sectors to fuel inclusive and sustainable economic growth and capital investment in Angola, Zambia and Democratic Republic of the Congo in the longer term. Specifically, this includes developing clean energy projects to increase the power supply to surrounding communities, supporting diversified investment in critical minerals and clean energy supply chains, extending digital access, growing agriculture value chains to enhance local food production for the region’s expanding population and to address global food insecurity, as well as augmenting local workforce training, support for small and medium enterprises and economic diversification.

Driving High Quality Transformative Investments Around the World
This G20 event builds on recent PGI investment announcements by President Biden and Vice President Harris, including at the ASEAN Summit and visit to Indonesia, the bilateral meeting with G20 host, India, and travel to Vietnam. In addition to economic corridors, PGI is driving high quality transformative investments around the world across PGI target sectors, including:
 
Greater Economic Cooperation with India:

  • Renewable Energy Generation: U.S. Development Finance Corporation (DFC)’s Board of Directors approved the provision of up to $425 million in financing to TP Solar Limited, a subsidiary of The Tata Power Company Limited, to build and operate a solar photovoltaic cell and module manufacturing facility in Tamil Nadu, India. Pending congressional notification, this investment will support India’s ambitious program to increase renewable energy generation while developing domestic industry to take advantage of the global clean energy transition. DFC’s support of TP Solar will build on previous support for India’s leadership in clean energy and contributes to a more diverse global supply chain for clean energy technology. 
     
  • Renewable Infrastructure Fund: India and the United States are also advancing the creation of investment platforms to lower the cost of capital and accelerate the deployment of greenfield renewable energy, battery storage and emerging green technology projects in India. Towards this end, India’s National Investment and Infrastructure Fund and the DFC exchanged letters of intent to each provide up to $500 million to anchor a renewable infrastructure investment fund.
     
  • Diversified Supply Chain for E-Mobility: The United States and India committed to contribute public finance and mobilize philanthropic finance to execute a payment security mechanism that will expand electric mobility in India by accelerating the procurement and deployment of 10,000 electric buses in India, providing extensive climate benefits and diversifying the global e-mobility supply chain.  
     
  • Health Manufacturing in India and Making Insulin Accessible Globally: DFC approved an up to $50 million loan to GeneSys Biologics Private Limited (“GeneSys”) to support its construction of a manufacturing facility in Telengana, India, to scale its production of insulin biosimilars by 10X, with the expectation that the biosimilars will be reviewed for approval by the U.S. Food and Drug Administration, as well as equivalent regulators in India and other countries. GeneSys will do drug substance manufacturing in Telangana and has partnered with Civica Rx to do fill-and-finish drug product manufacturing in Virginia. This effort will help to making insulin accessible and affordable in India, the United States, and around the world. The U.S. Department of Health and Human Services’ Biomedical Advanced Research and Development Authority has provided technical support throughout the development of the project.   
     
  • 5G Open RAN: The United States and India share a vision of creating secure and trusted telecommunications, resilient supply chains, and enabling global digital inclusion.  Further collaboration includes establishing two joint Task Forces on advanced telecommunications, focused on Open RAN and research and development in 5G/6G technologies. Public-private cooperation between vendors and operators will be led by India’s Bharat 6G Alliance and the U.S. Next G Alliance. Both countries are partnering on Open RAN field trials and rollouts, including scaled deployments, with operators and vendors of both markets.

Modern Ports in El Salvador: The U.S. Trade and Development Agency (USTDA) intends to provide a technical assistance grant of $900,000 to El Salvador’s national ports commission to modernize the container terminal at the Port of Acajutla. USTDA’s technical assistance aims to promote operational efficiency, reliability, and safety at El Salvador’s busiest seaport and to provide recommendations for deploying green port and digital technologies to reduce the port’s energy consumption, and decrease air pollution from maritime vessels.
 
Supply Chains in Mozambique:  DFC’s Board of Directors approved the provision of up to $150 million in financing to Twigg Exploration and Mining to fund investments in the company’s graphite mining and processing operation in Balama, Mozambique. Pending congressional notification, this investment will increase production and diversify the global supply chain for graphite which is a critical mineral for a range of clean energy and advanced technology products. DFC’s support will also lead to job creation and investment in local infrastructure while ensuring high environmental and social standards that are essential for responsible mining. 

Transportation Systems in the Philippines: USTDA intends to provide grant funding towards a feasibility study to support the Philippines’ Department of Transportation in assessing the viability of developing an expanded vessel traffic management system in the Philippines. As a nation comprised of over 7,000 islands, over 800 commercial ports, and growing vessel traffic activity, the Philippines aims to expand its vessel traffic management system capabilities to cover major ports and navigational paths. The feasibility study will assess the viability of potential implementation at 8 to 10 locations in the Philippines and develop the technical architecture and infrastructure requirements for each location.
 
Bridge the Gender Digital Divide: During her March 2023 trip to Africa, Vice President Kamala Harris announced the launch of the Women in the Digital Economy Fund (Wi-DEF) by the U.S. Agency for International Development (USAID), in partnership with the Bill & Melinda Gates Foundation with a combined $60 million commitment.  Since then, that commitment has leveraged further investment and led to the launch of the Women in the Digital Economy Initiative.  This effort will advance digital access and affordability; develop relevant products and tools; provide digital literacy and skills training; promote online safety and security; and invest in sex-disaggregated data and research.

  • Since the launch of WiDEF, partners have pledged an additional $11.6 million – $10 million from Microsoft and $1.6 million from the Government of the Republic of Korea.
     
  • Building off of the success of this Fund, USAID is launching the Women in the Digital Economy Initiative which convenes new partners who have pledged over $515 million collectively to help close the gender digital divide.  Australia, Canada, Finland, Germany, Japan, Sweden, and the United Kingdom have all pledged their support. In addition, private sector and philanthropic organizations have made contributions, including Amazon Web Services, the Bill & Melinda Gates Foundation, CARE, Citi, G20 EMPOWER India Chapter, the Global Digital Inclusion Partnership, GSMA, the Mastercard Center for Inclusive Growth, Microsoft Corporation, myAgro, Reliance Foundation, Viasat, Visa Foundation, and Visa Inc.
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FACT SHEET: Biden Delivers on an Ambitious Agenda for the G20

When President Biden took office, he committed to restore the United States’ leadership role in the world, rebuild our relationships abroad, and champion an economic agenda at home and abroad to deliver sustainable and inclusive growth for American families—and families everywhere. This week, at the G20 Summit in New Delhi, President Biden continued to deliver on those commitments.
 
Leading by example and working with partners around the world, the United States and the G20 delivered for developing countries, for our shared planet, and for an inclusive and responsible digital transformation. At a moment when the global economy is suffering from the overlapping shocks of the climate crisis, fragility, and conflict—including the immense suffering unleashed by Russia’s war in Ukraine—this year’s Summit proved that the G20 can still drive solutions to our most pressing issues.
 
The United States is committed to the G20 and to building on the progress made in India’s G20 Presidency, starting with Brazil’s Presidency in 2024 and South Africa’s Presidency in 2025. In a sign of the President’s steadfast commitment to the G20 as the premier forum for international economic cooperation, the United States will host the G20 in 2026. As President Biden called for last year at the U.S.-Africa Leaders’ Summit, the United States is also pleased to have supported and now welcome the African Union as a permanent member of the G20, a reflection of both the G20’s vitality and the important role of Africa in the global economy.
 
Delivering for Developing Countries
 
At the midpoint of the 2030 Agenda for Sustainable Development, compounding crises have resulted in a stalling or reversal of development gains. In New Delhi, President Biden and other G20 leaders committed to implement the G20 2023 Action Plan to Accelerate the Sustainable Development Goals (SDGs). The United States remains committed to the full implementation of the 2030 Agenda, both at home and around the world.
 
At home, President Biden is rebuilding the American economy from the bottom up and middle out and making historic investments in our infrastructure, our people, and our climate. These policies have enabled the United States to have the strongest recovery of any major economy. As the world’s largest bilateral donor of official development assistance, the United States is working to help develop countries support their development priorities in areas like inclusive growth, infrastructure, education, health and health security, and resilient and sustainable food systems.
 
Recognizing that public funding alone is not enough, President Biden is championing an ambitious agenda to mobilize significant additional financing for development from all sources—public and private, domestic and international. At the G20, he delivered key elements of that agenda.

  • Delivering a better, bigger, more effective World Bank. The United States is championing a major effort to fundamentally reshape the multilateral development banks to meet 21st century challenges. Over the last year, the World Bank, with the backing of the G20, has made meaningful progress in unlocking new financing capacity and advancing operational reforms. Under Ajay Banga’s leadership, the World Bank is set to play a transformative role in addressing global challenges. Last month, President Biden asked Congress for funds to unlock more than $25 billion in World Bank Group concessional financing. In New Delhi, he rallied G20 partners to agree to collectively mobilize more headroom and concessional finance to boost the World Bank’s capacity to support low- and middle-income countries. This initiative will make the Bank a better and bigger institution able to provide resources at the scale and speed needed to tackle global challenges and address the urgent needs of the poorest countries.
     
  • Supporting countries that fall into economic crisis. President Biden called on the G20 as leaders in the global economy to provide meaningful debt relief so that low- and middle-income countries can regain their footing as they seek to recover from compounding economic shocks in the last few years, and invest in critical development needs. Leaders in New Delhi committed to redouble efforts to resolve ongoing debt distress cases—like Ghana and Sri Lanka. President Biden made it clear that the United States expects meaningful progress by the World Bank and IMF Annual Meetings in October. 
     
  • Make financing more sustainable. President Biden pressed leaders to think beyond our current frameworks to provide new solutions to help translate unsustainable debt into transformative investments. The U.S. Development Finance Corporation has provided such financing to facilitate more than $1 billion in debt for nature swaps in the Western Hemisphere and Africa—unlocking funds for countries to tackle the climate and biodiversity crises and to invest in other critical development needs. At the G20, President Biden also pressed all creditors—including the private sector and multilateral development banks—to offer climate resilient debt clauses in their lending. The U.S. Export Import Bank is preparing to do so in select bilateral lending, in line with its governance framework.
     
  • Developing transformative economic corridors and scaling high-quality investments through the Partnership for Global Infrastructure and Investment (PGI). At an event co-hosted by President Biden and Prime Minister Modi, President Biden and partners announced a landmark India-Middle East-Europe Economic Corridor that will usher a new era of connectivity from Europe to Asia, facilitating global trade, as well as cooperation on energy and digital connectivity. President Biden also announced a new partnership with the European Union to expand investments in the Lobito Corridor. The President called on partners to deploy public capital to strategically leverage the expertise and financing of the private sector to help secure and diversify 21st century energy supply chains, expand digital connectivity, increase electricity access, bolster food security, and strengthen health systems.

 
Working for a Just Peace in Ukraine
 
President Biden is engaging with countries around the world in pressing for a just peace in Ukraine based on sovereignty and territorial integrity. One and a half years after Russia’s illegal and unjustified aggression against Ukraine, G20 leaders joined President Biden in welcoming efforts to secure “a just peace that upholds all the Purposes and Principles of the UN Charter.” G20 leaders emphasized that countries must refrain from the threat or use of force to seek territorial acquisition against any state’s territorial integrity and sovereignty. G20 leaders also united in highlighting the human suffering and severe economic impacts of the war against Ukraine. The statement highlighted that major economies from around the world – including Brazil, India, South Africa – are united in the need for Russia to uphold international law including territorial integrity and sovereignty. 
 
 
Delivering on Food Security
 
Since the beginning of his Administration, President Biden has made global food security a priority and galvanized collective action to respond to the global food crisis. The United States has committed more than $15.2 billion in critical humanitarian assistance and medium- to long-term food security investments around the world. These investments have helped countries address acute needs and avert famine, as well as diversify their supply chains. At the G20, President Biden championed an agenda focused on mitigating the acute food crises the world is facing today, as well as working together with G20 countries to mitigate against future shocks. 

  • Addressing the food security crisis exacerbated by Russia’s unlawful war in Ukraine. Russia has intensified its attack on global food security with its July decision to withdraw from the Black Sea Grain Initiative (BSGI)—which was responsible for nearly 33 million tons of food exports, about two-thirds of which went directly to middle- and lower-income countries—and its attacks on Ukraine’s port infrastructure to prevent Ukrainian grain shipments from getting to those who need it most. The United States continues to lead the charge to mitigate the impact of Russia’s invasion on world food security and to provide food assistance to the most vulnerable populations in the world. In addition to the more than $15.2 billion that the United States has provided since 2021 to address famine and food insecurity, the Biden-Harris Administration and G7 leaders have rallied the world to contribute an additional over $4.5 billion for acute and medium to long term food security assistance, half of which came from the United States. At the G20, President Biden was unequivocal in calling on Russia to stop weaponizing food, which is causing immense human suffering around the world. G20 leaders united to call for the full, timely and effective implementation of the BSGI.   
     
  • Building more resilient food systems to mitigate against future food shocks. Collective G20 action is necessary to help address global food, climate, and supply chain shocks, prevent hunger and build more sustainable, inclusive, and resilient agriculture and food systems. In New Delhi, President Biden joined G20 leaders in committing to keep food supply chains and trade open, including for agricultural inputs like fertilizer and seeds; adopt and expand climate-smart agricultural practices; invest in critical agricultural infrastructure; promote innovative agricultural research and innovation; and use digital technology to help lower production and transportation costs and diversify access to new global food markets.

 
Delivering on Global Health Challenges
 
The United States is the world’s largest bilateral donor for global health and is committed to working alongside the G20 to build a safer, more equitable future. This includes working together to invest in health equity through vaccine distribution, expanding and improving access to health systems, and facilitating the availability of quality services to historically marginalized groups. It also includes strengthening health systems and institutions; combatting infectious diseases including HIV/AIDS, tuberculosis and malaria; advancing sexual and reproductive health and rights, and accelerating efforts towards universal health coverage.

  • Improving pandemic preparedness and response. Last year, President Biden galvanized the world to help launch a new Pandemic Fund to fill critical gaps in pandemic preparedness and global health security, committing $450 million and unlocking an additional $1 billion in initial contributions from nearly two dozen countries and philanthropies. This year, the Pandemic Fund is a reality, and recently concluded its first call for proposals, approving $338 million in grants to 37 countries across 6 regions to strengthen disease surveillance and early warning systems and laboratories. In New Delhi, President Biden made it clear that the G20 cannot lose its focus on improving pandemic preparedness, prevention, and response. To this end, he has committed an additional $250 million in planned funds to the Pandemic Fund.
     
  • Building stronger health systems. As we emerge from the acute phase of the COVID-19 pandemic, many countries’ health systems are struggling to restore access to basic services, like routine childhood immunization and maternal health care. To help the world get back on track, President Biden launched the Global Health Worker Initiative in 2022, recognizing that a health workforce that is supported, equipped, and protected is necessary to reclaim lost ground from the pandemic and prepare for future health threats. President Biden urged G20 leaders to commit to reverse the first global decline in life expectancy in more than seven decades. G20 leaders committed to work together to strengthen primary health care and restore essential health services to better than pre-pandemic levels by the end of 2025.  
     
  • Tackling the overdose crisis: G20 leaders came together for the first time to elevate counternarcotics challenges, and synthetic drugs in particular, as a G20 priority. Leaders recognized the shared public health threats posed by synthetic drugs and committed to enhanced information sharing and capacity building to address these challenges, advancing the critical actions the Biden-Harris Administration is taking to address the overdose crisis at home.

 
Delivering for Our Planet
 
Building a clean energy economy here at home is one of President Biden’s top priorities. But climate change is an issue that requires global action, and the G20 is collectively responsible for about 80 percent of global emissions. In New Delhi, President Biden secured commitments to ensure the G20 continues to set its collective ambition high to address the climate crisis.

  • Tripling global renewable energy capacity by 2030. At home, President Biden signed into law the Inflation Reduction Act (IRA) to increase investments in clean energy technologies. Outside estimates report that the IRA has already created more than 170,000 jobs and will create 1.5 million over the next decade. And the IRA will expand clean energy supply, speed global adoption, and drive down technology costs by as much as 25 percent globally. I In New Delhi, President Biden and G20 leaders committed to pursue efforts to triple global renewable energy capacity by 2030, encouraging more countries to follow the IRA playbook of investing in clean energy manufacturing and deployment, creating jobs, and fighting climate change.
     
  • Recognizing the need to peak global emissions by 2025. President Biden successfully urged the G20 to join together in acknowledging, for the first time, the need to peak global emissions by no later than 2025, and in recognizing the to reduce greenhouse gas emissions by 43 percent by 2030, and 60 percent by 2035, relative to 2019 levels. The Intergovernmental Panel on Climate Change has said that these actions are critical to achieving global net zero greenhouse gas emissions/carbon neutrality by or around mid-century and limiting warming to 1.5 degrees Celsius.
     
  • Encouraging countries to incorporate economy-wide targets covering all greenhouse gases into their nationally determined contributions. G20 nations have the ability to reduce their emissions in a way that meaningfully supports the full and effective implementation of the Paris Agreement and its temperature goals. With President Biden’s leadership, G20 countries for the first time urged all countries to include economy-wide targets covering all greenhouse gases in upcoming cycles for Nationally Determined Contributions (NDCs).
     
  • Launching the Global Biofuels Alliance. Sustainable biofuels are critical to facilitating net zero by 2050. Advanced biofuels can be sustainably produced from abundant organic material—and supplied by reliable trading partners like the United States. In New Delhi, the G20 Presidency launched the Global Biofuels Alliance with the United States as a founding member along with India, Brazil, Italy, Canada, Argentina, and South Africa. This new Alliance will bring countries together to expand and create new markets for sustainable biofuels.

 
Delivering an Inclusive and Responsible Digital Transformation
 
The digital transformations underway offer the potential to improve the lives of our citizens if they are harnessed responsibly and in a way that drives broadly shared growth. In order to realize the benefits of these technologies, President Biden believes it is necessary to address the barriers to inclusive access and to shape regulatory and governance approaches to maximize their benefits while mitigating their risks. This is the agenda that he championed in New Delhi.

  • Harnessing AI responsibly, for good and for all. President Biden championed an approach to AI that includes a commitment to responsible AI development, deployment, and use, to leverage AI to solve pressing challenges while protecting people’s rights and safety.
     
  • Cutting the digital gender divide in half by 2030. Globally, approximately 260 million more men than women were using the internet in 2022—a divide that undermines women’s full participation in the 21st century economy. President Biden successfully secured a commitment from G20 leaders to halve the digital gender gap by 2030. To help meet this commitment, the United States announced a Women in the Digital Economy Initiative, convening partners from government, the private sector, and civil society to accelerate efforts to close the gender digital divide.
     

Improving access to digital services to boost sustainable and inclusive growth. President Biden joined other G20 leaders in taking steps towards unlocking the benefits of digital public infrastructure (DPI), stressing the importance of prioritizing secure, inclusive, and accountable approaches to DPI, built and leveraged by both the public and private sectors, that respect human rights and protect personal data, privacy, and intellectual property rights.

Biden Administration, Economic Development, Economic Policies, Labor and Workers, President Joe Biden

FACT SHEET: Ahead of Labor Day, Biden-Harris Administration Announces New Actions to Empower Workers— Building on the President’s Historic Support for Workers and Unions

New actions announced this week empower workers to grow the economy from the middle out and the bottom up—a core pillar of Bidenomics
 

Actions Biden-Harris Administration is taking to benefit workers are resulting in higher wages for construction workers. In August, the Department of Labor (DOL) published a final rule updating the Davis-Bacon Act prevailing wage standards for the first time in nearly 40 years.  The rule affects more than one million workers constructing $200 billion in federally funded or assisted projects, who will receive higher wages over time.  Nearly all of the significant construction programs contained in President Biden’s Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act require or provide strong incentives for the use of Davis-Bacon prevailing wages—which ensures even more workers will benefit from DOL’s new rule. © Karen Rubin/news-photos-features.com

President Biden promised to be the most pro-worker and pro-union President in American history, and he has kept that promise. Support for unions is at its highest level in more than half a century, inflation-adjusted income is up 3.5% since the President took office, and the largest wage gains over the last two years have gone to the lowest-paid workers. The unemployment rate is near a 50-year low, and a greater share of working-age people have a job today than at any other time in more than two decades. Under the leadership of the Biden-Harris Administration, all workers—including those who are often left behind in recoveries—are experiencing record-low unemployment rates. 

Under Bidenomics, America is seeing a historic level of public and private investment in manufacturing and new industries that will create good-paying jobs that Americans can raise a family on and build a community around. The President continues to fight to ensure all Americans get fair pay for a hard day’s work and have a free and fair choice to join a union.

In advance of Labor Day, the Biden-Harris Administration is announcing new actions this week to empower workers by investing in America’s clean energy workforce, establishing pathways into high-paying and union jobs, demonstrating the benefits of unions, and extending critical wage protections.  These actions include:

Ensuring Clean Energy Investments Support High-Quality and Union Jobs

  • Creating good-paying jobs in clean energy.  The Department of the Treasury and the Internal Revenue Service published a historic proposed rule to support good-paying jobs and workforce development made possible by incentives in the Inflation Reduction Act (IRA).  Many of the IRA’s clean energy deployment tax incentives are increased by five times if taxpayers pay workers prevailing wages and use Registered Apprentices. The Notice of Proposed Rulemaking (NPRM) provides clarity about how these incentives work, including penalty and correction provisions for those who fail to meet the requirements, and promotes worker-centric practices.  The NPRM also encourages the use of qualifying Project Labor Agreements, which guarantee workers good-paying jobs, help construction contractors finish complex projects on time and on budget, and can establish equitable pathways into construction careers.
     
  • Supporting a fair and just electric vehicle transition.  The Department of Energy opened applications for the $2 billion Domestic Manufacturing Conversion Grants program, created by the IRA. The program will provide funding for auto manufacturers transitioning from internal combustion engine vehicles and components to electric vehicles and components. In line with the President’s call for a transition that protects workers, this program will prioritize applications from facilities that are at risk of closing or recently closed and reward applicants that retain existing workers, have strong labor partnerships, pay high wages, and convert facilities while remaining in the same community.  The Department of Energy Loan Programs Office is also facilitating access to $10 billion in capital for auto factory conversions.  The Office plans to prioritize the review of applications for projects in locations with a long history of auto manufacturing and demonstrate strong workforce practices and labor standards.

Strengthening electric vehicle (EV) battery supply chains and supporting high-quality jobs, including for auto workers.  The Department of Energy is releasing a second-round Notice of Intent for $3.5 billion for the Battery Manufacturing grant programs under the Bipartisan Infrastructure Law.  The program will help expand domestic manufacturing of batteries for electric vehicles and the nation’s grid, as well as for battery materials and components currently imported from other countries.  This Notice of Intent outlines the direction for the next phase of the program, which will support communities with experienced auto workers and a history of producing vehicles, applicants with strong workforce practices, and applicants who plan to create high-quality jobs.

Demonstrating the Union Advantage

  • Conducting analysis on how unions benefit the economy.  The Department of the Treasury released a first-of-its-kind report that finds that unions help grow the economy by reducing inequality, raising incomes, increasing savings (including retirement savings), and broadening homeownership.  According to the report, which was released as part of the White House Task Force on Worker Organizing and Empowerment chaired by Vice President Kamala Harris, union members make higher wages and are more likely to earn critical benefits like retirement, health care, child care, life insurance, and sick leave.  The report also finds that all workers—even non-union workers and workers who have been laid off—experience gains from greater unionization.

Extending Overtime Protections

  • Proposing new rules that would provide millions of workers with overtime protections.  The Department of Labor released a proposed rule to increase the overtime salary threshold from under $36,000 per year to roughly $55,000 per year.  Under this proposal, more salaried employees making less than $55,000 per year and working more than 40 hours a week would receive at least one and one-half times their regular rates of pay for the overtime hours they work.  The proposed rule would extend overtime pay to as many as 3.6 million hardworking Americans.

These actions build on historic support for workers and unions since Day One of the Biden-Harris Administration, including:

Increasing Wages

  • Raising wages for construction workers. In August, the Department of Labor (DOL) published a final rule updating the Davis-Bacon Act prevailing wage standards for the first time in nearly 40 years.  The rule affects more than one million workers constructing $200 billion in federally funded or assisted projects, who will receive higher wages over time.  Nearly all of the significant construction programs contained in President Biden’s Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act require or provide strong incentives for the use of Davis-Bacon prevailing wages—which ensures even more workers will benefit from DOL’s new rule.
     
  • Protecting workers’ pay.  The Biden-Harris Administration has recovered more than $690 million for more than 440,000 low-paid workers across the nation.  The Administration enforces laws that protect these workers from being victims of wage theft and exploitation when they were not paid minimum wages or hard-earned overtime wages, were denied their tips, or were misclassified as independent contractors.

Supporting Workers’ Right to Organize

  • Empowering workers through education.  Recently, the Department of Labor relaunched the Worker Organizing Resource and Knowledge (WORK) Center.  The WORK Center is the federal government’s premiere online resource center providing information about labor unions and their importance to workers and communities.  While more than half of non-union workers say they want a union, only about 10 percent of these workers say they know how to form one.  The WORK Center meets the needs of workers who are seeking more information about their labor rights and lack experience in organizing.
     
  • Disclosing when federal contractors hire union avoidance advisors.  In July, the Department of Labor published a final regulation updating the LM-10 form, a form that employers must file disclosing whether they pay consultants to persuade workers concerning their organizing and collective bargaining rights or to surveil activities of employees and unions involved in labor disputes. The rule newly requires private-sector employers to indicate whether they are federal contractors or subcontractors, promoting transparency for workers and the federal government into whether contractors hire anti-union consultants. 

Expanding Workforce Development

  • Making historic investment in Registered Apprenticeships.  All Americans should have a pathway to good-paying jobs, which is why the Biden-Harris Administration invested a historic $285 million in Registered Apprenticeships in fiscal year (FY) 2023 and, in July, awarded more than $65 million in grants to 45 states to expand and diversify Registered Apprenticeships in high-demand industries.  The Administration also launched the Apprenticeship Ambassadors Initiative to amplify the Registered Apprenticeship model with private- and public-sector employers.
     
  • Launching Investing in America Workforce Hubs.  In May, the Biden-Harris Administration launched new initiatives to train and connect more workers to the good-paying jobs—including union jobs—created by the President’s Investing in America investments. Through the Workforce Hubs Initiative, the Administration is partnering with local officials, employers, unions, community colleges, and other stakeholders to ensure a diverse and skilled workforce is ready to meet the demand for labor driven by historic public and private investments in five Hubs—Phoenix, Columbus, Baltimore, Augusta, and Pittsburgh.

Fostering Equal Employment Opportunities

  • Increasing access to good construction jobs for underrepresented workers.  In March, the Department of Labor launched the Mega Construction Project (Megaproject) Program, initially designating as Megaprojects 12 Bipartisan Infrastructure Law-funded projects across the country. The Megaprojects Program provides free, continuous, on-the-ground assistance to help construction project owners, contractors, and unions ensure equal employment opportunities for underrepresented workers. Also in March, the Department of Labor announced a $20 million cooperative agreement with TradesFutures for the Scaling Apprenticeship Readiness Across the Building Trades Initiative, in partnership with the National Urban League.  This first-of-its-kind initiative aims to substantially increase the number of participants from underrepresented populations and underserved communities in Registered Apprenticeship programs in the construction industry.
     
  • Expanding access to child care and long-term care. In April, President Biden issued an Executive Order with more than 50 actions to increase access to high-quality care and better support caregivers. The Executive Order directs all cabinet-level agencies with federal job-creation funds—including from his Investing in America agenda—to consider requiring or encouraging grantees to use funds for supportive services, including child care and long-term care, to the maximum extent allowable. This action will help ensure underserved workers can enroll in, remain in, and complete training, and transition to good jobs, including union jobs. This builds on the first-of-its-kind requirement that employers seeking significant federal funds under the CHIPS and Science Act provide a concrete plan to help their employees access affordable child care, enabling more parents from local communities to access good-paying jobs. 

In his Labor Day Proclamation, President Biden declared:

     American workers are the best in the world, but over the past few decades, too many leaders embraced an economic theory that failed them and our unions.  It is called trickle-down economics.  It is the belief that we should cut taxes for the wealthy and big corporations and wait for the benefits to trickle down to workers and American families.  It is a belief that we should shrink public investment in infrastructure and public education.  It is a tax policy that encourages corporations to move operations and jobs overseas.  

     Trickle-down policies slashed investments in people and communities and allowed big corporations to amass more power while limiting the ability of workers to join unions.  It did not matter where companies made things, as long as it helped their bottom line — even if it meant losing the very workers who had helped them succeed.  Companies cut staff, shipped good jobs overseas, prioritized cheap labor, and silenced workers’ voices.  As a result, factories and businesses across the country shut down, entire communities were hollowed out, and for many working people, a path to better their circumstances would never be within reach.  People working as hard as ever could not get ahead because it was harder to buy a home, pay for a college education, start a business, and retire with dignity.  The moment we embraced trickle-down economics, we walked away from who we are and from the way our Nation was built.

     I knew our Nation could not continue with those same failed policies, so I came into office determined to build an economy that grows from the middle out and bottom up, not the top down.  And it is working.  We have added over 13 million jobs, including 800,000 manufacturing jobs.  We added more jobs in my first two years than any President in a single 4-year term because we are investing in America and Americans again.

     The Bipartisan Infrastructure Law I signed is a once-in-a-generation investment that puts Americans to work rebuilding our Nation’s infrastructure using American-made materials.  We have announced nearly 37,000 new projects since we passed the bill.  For me, it was a top priority that the overwhelming majority of these investments be covered by Davis-Bacon prevailing wage requirements to make sure the hundreds of thousands of jobs we create are good-paying jobs. 

     We passed the CHIPS and Science Act to bring semiconductor manufacturing back to American shores and ensure that the United States leads the world in innovation.  It has attracted over $166 billion in investment and ignited a semiconductor manufacturing boom.  Our Inflation Reduction Act helps build the clean energy industries of the future here at home while incentivizing companies to adopt strong labor standards.  Our American Rescue Plan includes funding to protect over two million union workers, retirees, and their families from benefit cuts to the pensions they have earned.  All of these investments mean good-paying jobs that American workers can raise their families on, many of which do not require a 4-year college degree.

     By investing more in Registered Apprenticeships and in career and technical education programs than any previous administration, we are ensuring that every American — from every region and background — can access the training and education needed to participate in our Nation’s economic prosperity.  My Administration is working to crack down on non-compete agreements that keep 30 million Americans from taking new jobs with higher wages in their field.  We are taking action to protect workers’ health and safety from hazards they may be exposed to on the job, such as silica dust and other toxic materials.  And my Administration is empowering American workers and giving working families some breathing room by bringing the cost of prescription drugs and health care down for millions of Americans. 

     I promised to be the most pro-union President in history, and I firmly believe that every worker in America should have the free and fair choice to join a union or organize and bargain collectively with their employer without coercion or intimidation.  That is because when organized labor wins, our Nation wins.  My Administration will continue to support and encourage labor unions so that workers have a seat at the decision-making table, an opportunity to speak truth to power, and the support to fight for the dignity and respect they deserve.  

     On Labor Day, we stand in solidarity with all the workers who lift our Nation to new heights and all the labor unions who give all workers power and voice.  May we continue working to restore the American Dream for every person willing to work hard in our Nation by embracing what has always been the foundation of our country’s success:  investing in America and American workers. 

Biden Administration, Economic Development

FACT SHEET: One Year after Signing CHIPS and Science Act, Biden Marks Historic Progress in Bringing Semiconductor Supply Chains Home, Supporting Innovation, Protecting National Security

Companies have announced $166 billion in investments in semiconductors and electronics in the one year since President Biden signed CHIPS into law
 

President Joe Biden, on the year-anniversary of signing the CHIPS and Science Act, companies have announced over $166 billion to bring semiconductor manufacturing back to the United States. “These investments are creating jobs and opportunities in communities across the country – from Ohio to Arizona, Texas and New York. And, in the last year alone, at least 50 community colleges have announced new or expanded programs to help American workers access good-paying jobs in the semiconductor industry.”

One year ago, President Biden signed into law the CHIPS and Science Act (CHIPS), which makes a nearly $53 billion investment in U.S. semiconductor manufacturing, research and development, and workforce. The law also creates a 25 percent tax credit for capital investments in semiconductor manufacturing, and is helping to keep America at the forefront of innovation and technological development. Semiconductors were invented in the United States, but today we produce only about 10 percent of global supply—and none of the most advanced chips. Similarly, investments in research and development have fallen to less than 1 percent of GDP from 2 percent in the mid-1960s at the peak of the space race. The CHIPS and Science Act aims to change this by driving American competitiveness, making American supply chains more resilient, and supporting our national security and access to key technologies.
 
In the one year since CHIPS was signed into law, companies have announced over $166 billion in manufacturing in semiconductors and electronics, and at least 50 community colleges in 19 states have announced new or expanded programming to help American workers access good-paying jobs in the semiconductor industry. In total, since the beginning of the Biden-Harris Administration, companies have announced over $231 billion in commitments in semiconductor and electronics investments in the United States. This week alone, the Department of Commerce announced the first round of grants under CHIPS to support the development of open and interoperable wireless networks, and the National Science Foundation and Departments of Energy, Commerce, and Defense announced progress toward establishing the National Semiconductor Technology Center, which will help advance America’s leadership in semiconductor research and development.

“One year ago today, I signed into law the bipartisan CHIPS and Science Act to revitalize American leadership in semiconductors, strengthen our supply chains, protect our national security, and advance American competitiveness,” President Biden stated. “America invented semiconductors – and today, they power everything from cell phones to cars to refrigerators. But over time, the United States went from producing nearly 40% of the world’s chips to just over 10%, making our economy vulnerable to global supply chain disruptions.

“The CHIPS and Science Act aims to change that.

“In the year since I signed this legislation into law, companies have announced over $166 billion to bring semiconductor manufacturing back to the United States. These investments are creating jobs and opportunities in communities across the country – from Ohio to Arizona, Texas and New York. And, in the last year alone, at least 50 community colleges have announced new or expanded programs to help American workers access good-paying jobs in the semiconductor industry. 

“The CHIPS and Science Act is a key part of my Bidenomics agenda to bring investment and opportunity to every corner of the country. Over the coming months, my Administration will continue to implement this historic law, make sure American union workers, small businesses, and families benefit from investments spurred by the CHIPS and Science Act, and make America once again a leader in semiconductor manufacturing and less dependent on other countries for our electronics or clean energy supply chains.”

One Year of Progress on Semiconductor Manufacturing and Innovation

Over the past year, agencies across the federal government have been developing and executing on programs established under CHIPS to encourage domestic semiconductor manufacturing, invest in research and development, and support supply chain resilience and workforce development. Key milestones in the Administration’s implementation of CHIPS include:

Supporting U.S. Semiconductor Manufacturing

  • The Department of Commerce launched the first funding opportunity for the $39 billion in semiconductor manufacturing incentives provided in the Act just six months after CHIPS was passed. This funding opportunity covers funding for projects to construct, expand, or modernize facilities producing semiconductors and for projects that are making large investments in facilities to produce semiconductor materials and manufacturing equipment. As the Department assesses applications, economic and national security considerations will be key factors and the program will, among other objectives, aim to provide a supply of secure, national-security relevant semiconductors.
  • Already, the Department of Commerce has received more than 460 statements of interest from companies for projects across 42 states interested in receiving CHIPS funding to invest across the semiconductor value chain from manufacturing to supply chains to commercial R&D.
  • The Department of Commerce has also stood up CHIPS for America, a team of more than 140 people working to support implementation of all aspects of the CHIPS incentives program.
  • The Department of the Treasury released a proposed rule in March 2023 to provide guidance on the Advanced Manufacturing Investment Credit, a 25% investment tax credit for companies engaged in semiconductor manufacturing and producing semiconductor manufacturing equipment. The Department of the Treasury also released a proposed rule in June 2023 to allow companies to receive the full amount of the Advanced Manufacturing Investment Credit as a direct payment from the Internal Revenue Service.
  • The Department of the Treasury released a proposed rule in March 2023 to provide guidance on implementing the Advanced Manufacturing Investment Credit to assist companies engaged in semiconductor manufacturing and producing semiconductor manufacturing equipment with a 25% tax credit.
     

Protecting National Security and Working with Allies and Partners

The Department of Commerce issued a proposed rule in March 2023 to implement the national security guardrails laid out in CHIPS. These guardrails are intended to prevent technology and innovation funded by the program from being misused by foreign countries of concern. The Department of the Treasury’s proposed rule in March 2023 implemented parallel guardrails for the Advanced Manufacturing Investment Credit.

  • The Department of State announced in March 2023 its plans for implementing the International Technology Security and Innovation Fund to support semiconductor supply chain security and diversification, as well as adoption of trustworthy and secure telecommunications networks. The State Department has already announced partnerships with Costa Rica, Panama, and the OECD to explore opportunities to collaborate on the global semiconductor supply chain.
  • The Department of Defense and Department of Commerce signed an agreement to expand their collaboration to make sure that CHIPS investments will position the United States to manufacture semiconductors essential to national security and defense programs.
  • As it implements CHIPS, the Department of Commerce has been in close touch with a number of partners and allies including the Republic of Korea, Japan, the United Kingdom, India, and the European Union. The United States is engaging with partners and allies to coordinate government incentive programs, build resilient cross-border semiconductor supply chains, promote knowledge exchange and collaboration in developing next-generation technologies, and implement safeguards to protect national security.
     

Creating Jobs and Workforce Pipelines for American Workers

  • The White House announced an initial set of five Workforce Hubs to create pipelines for Americans to access good-paying jobs in the semiconductor industry and other industries seeing an increase in investments driven by President Biden’s Investing in America agenda – including CHIPS, the Inflation Reduction Act, and the Bipartisan Infrastructure Law. The White House also announced a national Workforce Sprint focused on creating pipelines into advanced manufacturing jobs, including in the semiconductor industry.
  • At least 50 community colleges have already announced new or expanded semiconductor workforce programs. In July, the White House launched its first Workforce Hub in Columbus, Ohio, where Columbus State Community College announced a new partnership with Intel which will create a new semiconductor technician credentialing course, available this fall.
  • The National Science Foundation is investing in the American semiconductor workforce through new initiatives focused on the manufacturing workforce, supporting researchers, and curriculum development. This includes partnerships with major semiconductor and technology companies.
  • According to Handshake, student applications to full-time jobs posted by semiconductor companies were up 79% in 2022-2023, compared to just 19% for other industries.
     

Investing in Innovation

  • The Department of Commerce is partnering with the Department of Defense, the Department of Energy, and the National Science Foundation to establish the National Semiconductor Technology Center (NSTC), a critical part of the CHIPS research and development program that will support U.S. leadership in semiconductor innovation, cut down on the time and cost of commercializing new technologies, and develop the semiconductor workforce. The Department of Commerce has also outlined its strategy for the NSTC with respect to extending U.S. leadership in semiconductor innovation, reducing time to commercialization, and building a strong microelectronics workforce.
  • The Department of Commerce is also continuing to work on other parts of its $11 billion R&D funding including the metrology program, the National Advanced Packaging Manufacturing Program, and up to three new Manufacturing USA Institutes.
  • The Department of Defense released a Request for Solutions for its Microelectronics Commons R&D program in December 2022. This program will support hardware prototyping, the transition of new technologies from lab-to-fab, and workforce training. Source selection is currently underway.
     

Supporting Regional Economic Development and Innovation

  • The Department of Commerce released a funding opportunity in May 2023 for Phase 1 of the $500 million Tech Hubs Program. This is an economic development program to develop centers of innovation across the country through support of regional manufacturing, commercialization, and deployment of key technologies.
  • The Department of Commerce released a funding opportunity in June 2023 for Phase 1 of the $200 million Recompete Pilot Program, an initiative to support economic opportunity and create good jobs in persistently distressed communities.  
  • The National Science Foundation established a new Directorate for Technology, Innovation, and Partnerships. This Directorate has already launched the NSF Regional Innovation Engines program, which is helping to support innovation in geographies that have not received the full benefits of technology advancement in past decades. In May 2023, NSF announced 44 NSF Engines Development Awards spanning 46 U.S. states and territories, each funded at up to $1 million over two years to plan for a future NSF Engine. In August 2023, NSF announced 16 finalists for the inaugural set of NSF Engines awards, which are anticipated by the end of the year and will provide each NSF Engine with up to $160 million over up to 10 years.
     

Support Wireless Innovation and Security

Biden Administration, Climate Action, Economic Development, Energy, Jobs, News & Photo Features

FACT SHEET: Bidenomics is Boosting Clean Energy Manufacturing for Offshore Wind and Creating Good-Paying American Union Jobs and Advancing a Clean-Energy Economy

Peoples Climate March, Washington DC April 29, 2017. President Biden is making historic investments in transitioning to a clean energy future, against opposition by Republicans © Karen Rubin/news-photos-features.com

President Biden visited Philly Shipyard, where union workers are building a new offshore wind vessel as part of continued manufacturing boom—while Republicans in Congress voted to repeal the Inflation Reduction Act and continue to try to block clean energy progress. This is a fact sheet from the White House on how Bidenomics is boosting clean energy manufacturing for offshore wind, which is creating well-paying union jobs in America that cannot be outsourced, while advancing the transition to a clean-energy economy to stem the existential impacts of climate change—Karen Rubin/news-photos-features.com 

President Biden’s economic agenda—Bidenomics— is fueling America’s clean energy future, creating American-made products in American factories with American workers, and attracting more than $500 billion in private sector manufacturing and clean energy investments, including in the offshore wind industry. President Biden visited Philadelphia, Pennsylvania for a steel-cutting ceremony at the Philly Shipyard for the first offshore wind vessel of its kind to be Made in America and Jones Act compliant, employing over 1,000 workers across nine unions to build the vessel, using steel plates made by the United Steelworkers in Indiana, and generating an estimated $125 million of U.S. economic activity each year. This project is another example of how Bidenomics is growing the economy from the middle out and the bottom up.
 
Under President Biden’s leadership, the American offshore wind industry is rapidly expanding—creating good-paying union jobs across the manufacturing, shipbuilding, and construction sectors. Since President Biden took office, companies have announced 18 offshore wind shipbuilding projects as well as investments of nearly $3.5 billion across 12 manufacturing facilities and 13 ports to strengthen the American offshore wind supply chain, representing thousands of new jobs. New data released shows there are more than 4,100 companies in all 50 states that are looking to support the U.S. offshore wind industry, up 54% since President Biden signed the Inflation Reduction Act.

President Biden also announced the first-ever Gulf of Mexico offshore wind lease sale. This is the latest in a broad set of actions by the Biden-Harris Administration to build 30 gigawatts of offshore wind projects by 2030—enough to power more than 10 million homes with clean energy. A key pillar of Bidenomics, President Biden’s Investing in America agenda will help create offshore wind jobs across the country, including through tax credits from the Inflation Reduction Act to support Made in America wind turbines and ships.

However, if Republicans in Congress had their way, their states would have lost out on billions of dollars in investments, jobs, and opportunity. In Pennsylvania alone, companies have committed to invest approximately $2 billion in manufacturing and clean energy investments since President Biden took office. Yet nearly every Republican Member of the House voted again to overturn the Inflation Reduction Act’s clean energy tax credits in April 2023—doubling down on their opposition at a time when manufacturers were investing in their state.
 
Bidenomics is Catalyzing America’s Clean Energy and Offshore Wind Industry

As part of President Biden’s historic actions to build a clean energy economy, the Biden-Harris Administration has jumpstarted an American offshore wind industry that will strengthen the nation’s energy security, make the power grid more reliable while lowering energy costs, and reduce dangerous climate pollution. The Biden-Harris Administration’s actions to advance responsible offshore wind deployment are creating opportunities up and down the supply chain. A report released today by the Business Network for Offshore Wind shows the immense growth of the U.S. offshore wind industry since President Biden took office, with the Inflation Reduction Act catalyzing further progress:

  • Since January 2021, investments in the U.S. offshore wind industry have quadrupled from $5 billion to $21.6 billion, including growth of $7.7 billion since President Biden signed the Inflation Reduction Act. These totals reflect investments across specific project lease areas as well as the supply chain, port and transmission infrastructure, and workforce development needed to support the industry.
     
  • More than 4,100 companies across all 50 states have joined a supplier registry to express interest in providing components and services to the offshore wind industry—169% growth since President Biden took office and up 54% since he signed the Inflation Reduction Act.
     
  • The U.S. offshore wind industry now includes nearly 1,500 contracts for work in the growing American market, growth of 272% since President Biden took office and up 47% since he signed the Inflation Reduction Act, with 90% of these contracts going to companies that are either U.S. headquartered or have a U.S. presence.
     

This nationwide growth reflects jobs up and down the offshore wind supply chain and across the country. For example, today’s steel-cutting ceremony at the Philly Shipyard launches the construction of the Acadia, the first-ever Jones Act compliant vessel for offshore wind subsea rock installation—a contract that was announced as a direct result of the Administration’s clean energy agenda. This vessel will be crewed by American mariners and take rocks from American quarries to protect the foundations of offshore wind projects that produce American clean energy. Additional supply chain progress includes:

  • New and expanded ports and manufacturing facilities: Today the Department of Energy (DOE) published an updated map of offshore wind supply chain investments announced just since President Biden took office, including nearly $3.5 billion across 12 manufacturing facilities and 13 ports—representing major new economic opportunities across not just the East Coast, but also in the Midwest and along the Gulf of Mexico and West Coast. Under President Biden, the Department of Transportation’s Maritime Administration (MARAD) has awarded more than $100 million for port projects to support offshore wind development, through the Port Infrastructure Development Program expanded by the Bipartisan Infrastructure Law.
     
  • Vessel construction across multiple states: Since President Biden took office, companies have also announced investments to build 18 offshore wind vessels across states including Florida, Louisiana, New York, Massachusetts, Michigan, Rhode Island, and Wisconsin. Last year, MARAD announced the designation of offshore wind vessels as Vessels of National Interest for priority consideration under the Federal Ship Financing Program. Since then, MARAD has received and advanced reviews of applications for a variety of offshore wind vessel types.
     
  • Steel manufacturing boosts to support offshore wind industry: Recent announcements include an investment of $145 million to upgrade a steel facility in Mingo Junction, Ohio—following previously announced upgrades of $260 million for a steel plate mill in Baytown, Texas—to serve the offshore wind industry and the broader clean energy industry; a new advanced component steel facility in Baltimore that will construct and assemble offshore wind components using steel prefabricated at Maryland facilities; and an additional contract for a facility in western New York to provide specialized structural steelwork for the Revolution Wind and South Fork Wind projects. 

 
Earlier this year at the International Offshore Wind Partnering Forum in Baltimore, White House National Climate Advisor Ali Zaidi outlined ten ways the Administration is making progress toward the goal of deploying 30 gigawatts of offshore wind energy by 2030. Recent progress made by the Biden-Harris Administration toward this goal includes:

  • New Lease Areas: Today the Department of the Interior (DOI) is issuing the final sale notice for the first-ever offshore wind lease sale in the Gulf of Mexico, which will take place on August 29. This historic sale—with enough clean energy potential to power almost 1.3 million homes—will include one lease area of 102,480 acres offshore Lake Charles, Louisiana, and two lease areas totaling nearly 200,000 acres offshore Galveston, Texas. This sale will follow the Administration’s offshore wind sales in the New York Bight, Carolina Long Bay, and northern and central California, as well as yesterday’s announcement that DOI’s Bureau of Ocean Energy Management (BOEM) has completed another step in reviewing a potential offshore wind research lease in the Gulf of Maine.
     
  • Efficient and Responsible Permitting: Earlier this week, BOEM completed environmental analysis of the proposed Revolution Wind project offshore Rhode Island. If approved, it could power more than 300,000 homes with clean energy. This permitting milestone follows BOEM’s final construction approval earlier this month for the nation’s third large-scale offshore wind project, Ocean Wind 1 off the coast of New Jersey, which is expected to create more than 3,000 good-paying jobs. Other recent progress includes draft Environmental Impact Statements for six additional projects: Empire Wind, Sunrise Wind, Coastal Virginia Wind (CVOW), New England Wind, SouthCoast Wind, and Atlantic Shores South. In total, BOEM and cooperating agencies are on track to complete reviews of at least 16 project plans by 2025, representing more than 27 gigawatts of clean energy. The Administration is holding projects to high standards for community engagement and environmental protection, including work by the National Oceanic and Atmospheric Administration (NOAA) to ensure protection of coastal and marine resources, and requiring offshore wind projects to adopt extensive monitoring and mitigation measures that reduce the potential for impacts to protected species.
     
  • Construction Milestones: The nation’s first two large-scale offshore wind projects, approved by the Biden-Harris Administration, are both being built by union labor and achieved “steel in the water” by starting to install foundations last month. These projects will provide a wide range of benefits. For example, Vineyard Wind offshore Massachusetts will create enough clean electricity to power 400,000 homes, save customers $1.4 billion on their utility bills over 20 years, and reduce climate pollution by more than 1.5 million metric tons each year—the equivalent of taking 325,000 gas cars off the road—while creating 3,600 good-paying jobs. South Fork Wind offshore New York is using high-tech cables made in Charleston, South Carolina at a new factory, an electrical substation engineered in Kansas and fabricated in Texas, and a service operations vessel being built at shipyards in Louisiana, Mississippi, and Florida, with components sourced from across 34 states.
Biden Administration, Build Back Better, Economic Development, Economic Policies, Economy

Bidenomics Is Working, Growing the Economy from the Middle Out and Bottom Up—Not the Top Down

Freight Train, Rochester New York. The Biden-Harris Investing in America agenda is rebuilding our infrastructure, including our roads and bridges, high-speed internet capacity, ports, and airports. This infrastructure is the necessary foundation for durable and shared economic growth. Thanks to the Bipartisan Infrastructure Law, 35,000 new projects have been awarded funding in communities all across the country. By requiring Made-in-America products when using federal funding to rebuild infrastructure, President Biden is not only investing in our country’s roads and bridges, but also a strong domestic manufacturing base © Karen Rubin/news-photos-features.com

The June 2023 jobs report showed 497,000 more jobs created last month (twice the number anticipated) and wages up 6.4% – both indications of a strong, resilient economy and that ordinary, working Americans are doing well. Nonetheless, the stock market fell sharply over fears the Federal Reserve would continue to hike interest rates in order to tame the demon inflation by causing the labor market to weaken and take the steam out of wage growth. But the stock market is not the economy Americans live every day.

The Bidenomics agenda is driving investments in communities across the country – like billions of dollars for states to connect every American to high-speed internet, investments to rebuild roads and bridges, and investments to build a clean energy economy, boost domestic manufacturing, create jobs and lower costs for the American people.

Meanwhile, Republicans who voted against the historic investments of the Bipartisan Infrastructure Act and all efforts by the Biden Administration to promote a sustainable, resilient economic recovery that benefits all Americans, are actually, cynically, hypocritically taking credit for the marvelous infrastructure improvements like broadband and bridges, in their communities.

Despite GOP “voting no but still wanting the dough,” the Biden-Harris Administration is continuing to deliver investments, lower costs, and opportunity to hardworking Americans in every corner of the country.

In remarks in Chicago on June 28, President Biden declared, “Today, the U.S. has had the highest economic growth among the world’s leading economies since the pandemic. We’ve added over 13 million jobs, more jobs in two years than any President has added in a four-year term.
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“And folks, that’s no accident. That’s Bidenomics in action.
 
“Bidenomics is about building the economy from the middle out and bottom up – not the top down by making three fundamental changes.

“First, making smart investments  in  America.  Second, educating and empowering American workers to grow the middle class. And third, promoting competition to lower costs and help small businesses.”

The White House provided this fact sheet outlining how Bidenomics is indeed working, giving the U.S. the strongest economy among the G7, and growing the economy sustainably, from the middle out and the bottom up, rather than the top-down “trickle down” con the Republicans have been hawking since Reagan.—Karen Rubin/news-photos-features.com

President Biden and Vice President Harris came into office determined to rebuild our economy from the middle out and the bottom up, not the top down—and that strategy is working. Even as they faced an immediate economic and public health crisis—with a raging pandemic, elevated unemployment, snarled supply chains, and hundreds of thousands of small businesses at risk of shuttering—the President and Vice President understood that it wouldn’t be enough to simply go back to the economy we had before the pandemic. That economy was saddled with longstanding challenges that held America back—including rising inequality and disinvestment from communities across the country.
 
President Biden recognized that some of those challenges were rooted in a failed trickle-down theory that supported slashing taxes for the wealthy and big corporations, shrinking public investment in critical priorities like infrastructure and education, and failing to safeguard market competition.

The President took office determined to move beyond these failed trickle-down policies and fundamentally change the economic direction of our country. His plan—Bidenomics—is rooted in the recognition that the best way to grow the economy is from the middle out and the bottom up. It’s an economic vision centered around three key pillars:

  • Making smart public investments in America
  • Empowering and educating workers to grow the middle class
  • Promoting competition to lower costs and help entrepreneurs and small businesses thrive

While our work isn’t finished, Bidenomics is already delivering for the American people. Our economy has added more than 13 million jobs—including nearly 800,000 manufacturing jobs—and we’ve unleashed a manufacturing and clean energy boom. There were more than 10 million applications for new small businesses filed in 2021 and 2022—the strongest two years on record. America has seen the strongest growth since the pandemic of any leading economy in the world. Inflation has fallen for 11 straight months and has come down by more than half. And we have done it all while responsibly reducing the deficit.
 
None of this progress was an accident or inevitable—it has been a direct result of Bidenomics. And rather than taking us back to the failed trickle-down policies of the past, President Biden is committed to finishing the job and continuing to build an economy that finally works for working families—with better jobs, lower costs, and more opportunity.
 
Building More in America by Making Smart Public Investments
 
When President Biden came into office, public investment as a share of the economy had fallen from 7% in the 1960s to half that. A core tenet of Bidenomics is that targeted public investment can attract more private sector investment, rather than crowd it out. This is particularly true in sectors that are central to the long-term economic and national security interests of the United States—from improving our infrastructure, to semiconductors, to investing in clean energy and climate security.

The Biden-Harris Investing in America agenda is rebuilding our infrastructure, including our roads and bridges, high-speed internet capacity, ports, and airports. This infrastructure is the necessary foundation for durable and shared economic growth. Thanks to the Bipartisan Infrastructure Law, 35,000 new projects have been awarded funding in communities all across the country. By requiring Made-in-America products when using federal funding to rebuild infrastructure, President Biden is not only investing in our country’s roads and bridges, but also a strong domestic manufacturing base.
 
The President’s agenda is also investing in key industries that are critical to our national security and economic security, like producing more semiconductors in America. And it is investing in accelerating the clean energy economy to help achieve our climate goals, working with our global partners. This approach is creating millions of good-paying jobs, advancing American leadership in innovating next-generation technologies, and delivering for workers and communities. The President’s agenda is strengthening our clean energy supply chains by spurring new and expanded U.S. factories, including more than 150 battery plants and 50 solar plants already announced. In all, we’ve seen $490 billion in private investment commitments in 21st century industries since the President took office, and inflation-adjusted manufacturing construction spending has grown by nearly 100% in just two years. New data released just today shows the clean energy workforce added nearly 300,000 jobs in 2022 and clean energy jobs grew in every state in America, in part because of the investments in clean energy and manufacturing by the Biden-Harris Administration.

Empowering and Educating Workers to Grow the Middle Class
 
Bidenomics also recognizes that the benefits of a growing economy are only broadly shared when policies are designed to promote and empower workers. When the President took office, independent experts like the Congressional Budget Office were projecting that the unemployment rate wouldn’t fall below 4% until the end of 2025. But under Bidenomics, the unemployment rate fell below 4% four years before expectations and has stayed there for the past 18 months.
 
We’ve also seen record lows in unemployment for workers who have often been left behind in previous recoveries: with record low unemployment rates achieved under this Administration for African Americans, Hispanic Americans, and people with disabilities—and a 70-year low for women. This strong labor market recovery has also led to better pay and working conditions. Inflation-adjusted income is up 3.5% since the President took office, and low-wage workers have seen the largest wage gains over the last year. Job satisfaction reached its highest level on record last year. And the prospect of good jobs has drawn people off the sidelines and into the workforce. In fact, the share of working-age Americans in the workforce hasn’t been higher in more than 20 years. This strong recovery will also provide durable benefits for years to come, in part by preventing the labor market scarring that sticks with workers for generations after a recession.

Empowering workers also means educating America’s workers—those with and without a four-year degree. That’s why the Biden-Harris Administration is investing more in registered apprenticeships and career technical education programs than any previous Administration and continuing to fight for free universal pre-K and free community college.
 
And the President believes a critical tool for empowering workers is making it easier to join a union. The President is addressing a decades-long decline in unionization by supporting project labor agreements and collective bargaining. He asked the Vice President to lead the White House Task Force on Worker Organizing and Empowerment to drive action across the Administration to empower workers and support their right to join or form a union. Support for unions is the highest it’s been in more than half a century, and the labor movement is expanding to new companies and industries.

Promoting Competition to Lower Costs and Help Entrepreneurs and Small Businesses Thrive
 
Bidenomics recognizes that for markets to function—and for workers and consumers to benefit—our economy requires healthy competition across sectors. After three-quarters of U.S. industries grew more concentrated in the two decades before President Biden took office, he understood that we needed a different approach. More competition means lower costs for consumers and higher wages for workers. And since taking office, the President has been delivering for the American people to lower prices, protect workers, and increase competition across the economy.
 
When the President took office, he signed an historic Executive Order on Competition, which “commits the federal government to full and aggressive enforcement of our antitrust laws.” That order identified 72 specific initiatives across government to promote competition—and it is paying off. In addition to enforcement, the Administration is lowering costs for consumers and creating opportunities for innovative new products to come to market—including from the millions of new small businesses around the country that have started during the Biden-Harris Administration.
 
For example, the Administration changed the rules so that hearing aids can be sold over-the-counter, instead of just via prescription. Previously, hearings aids could cost up to $5,000 per pair, but Americans can now get them for a few hundred dollars at a local convenience or electronics store. President Biden has signed legislation into law that will lower prescription drug costs for seniors and save taxpayers $160 billion over the next decade by giving Medicare the authority to negotiate lower prescription drug prices. The Administration is also fighting to end junk fees—hidden charges that cost Americans’ tens of billions per year and rob the marketplace of the kind of transparency that is necessary for real competition. And the Administration is working toward cracking down on noncompete agreements, which currently limit as many as 30 million workers from switching to a new job in the same field.

Reducing the Deficit and Making the Wealthy and Big Corporations Pay Their Fair Share
 
President Biden has pursued this economic vision in a fiscally responsible way—in stark contrast to the Congressional Republican approach. His predecessor enacted the latest version of trickle-down and the result was predictable: his tax giveaway added trillions to deficits, never trickled down to workers, and led to continued offshoring of jobs and profits. In recent weeks, House Republicans have doubled down on this approach—rolling out proposals to enact massive tax cuts for large corporations, including oil companies that made $200 billion in profit last year, while setting the stage for trillions in tax cuts skewed to the wealthiest Americans, delivering a $175,000 average annual tax cut to the top 0.1% (incomes over $4 million). Their view of “fiscal responsibility” is massive cuts to programs that millions of Americans count on, with the Republican Study Committee—which speaks for more than three quarters of House Republicans—recently releasing a plan to raise the Social Security retirement age to 69, eliminate the Medicare prescription drug savings that President Biden has signed into law, raise premiums for seniors on Medicare, and slash Medicaid, the Affordable Care Act, food assistance, and Pell Grants.
 
President Biden believes in a fundamentally different approach. Under Bidenomics, he has proven that we can make smart investments in the American people while reducing the deficit by ensuring the wealthy and large corporations pay their fair share in taxes, closing wasteful tax loopholes, and slashing wasteful spending on special interests.

During his first two years, the President presided over $1.7 trillion in deficit reduction—a larger reduction than under any other President in American history. He has signed legislation into law to reduce the deficit by more than $1 trillion over the next decade, including by ensuring the wealthiest Americans and largest corporations pay their fair share, cracking down on wealthy tax cheats, and lowering prescription drug costs for the American people by cutting wasteful giveaways to Big Pharma. And his Budget would reduce the deficit by another more than $2.5 trillion over the next decade with additional reforms, including requiring the wealthiest Americans and the largest multinational corporations to pay at least the tax rates that many middle-class families do.
 
Unlike House Republicans—whose plans would harm hard-working families—the President has proposed cutting taxes for working people and families with children by almost $800 billion over the next 10 years, including cutting taxes by an average of $2,600 for 39 million families that include 62 million children by expanding the Child Tax Credit, cutting taxes by an average of $800 for 19 million working individuals or couples by expanding the Earned Income Tax Credit, and continuing Premium Tax Credit plus-ups that are cutting health care premiums by an average of $800 for nearly 15 million people.

Biden Administration, Economic Development, Environment, Environmental Protection, Health Care, News & Photo Features

FACT SHEET: Historic Biden Administration Investments in Water Infrastructure, Lead Pipe Replacement Are Creating New Domestic Manufacturing Jobs

Major US manufacturers committing to new investments and hiring in response to historic $50B investment in water infrastructure from President Biden’s Investing in America agenda

 
Senior executives from major U.S.-based manufacturers and distributors of water infrastructure parts joined senior Biden-Harris Administration officials at the White House to announce new private sector investments spurred by President Biden’s Investing in America agenda. The Bipartisan Infrastructure Law includes a more than $50 billion investment in the nation’s water infrastructure – including $15 billion set-aside for lead service line replacement. This historic investment represents a transformational increase in federal investment in the nation’s drinking water infrastructure over the next five years. By requiring Made in-America products when using federal funding to rebuild infrastructure, President Biden is not only investing in fixing our country’s water systems and replacing lead pipes, but also creating good-paying jobs and new domestic manufacturing.
 
To meet the increased demand for American-made water products, American manufacturers are stepping up their production capacity with new investments, creating jobs and American industrial capacity in the process. Administration officials have also emphasized the importance of collaborating with unions to ensure these investments build the middle class from the middle out and bottom up, not top-down.
 
This week, the following firms announced tens of millions in new manufacturing investments and hiring commitments:

  • A.Y. McDonald Mfg. Co. is an Iowa-based 167-year-old 5th generation family business with three manufacturing locations in Iowa, and Tennessee, with plans underway to build a state-of-the-art brass foundry in Wisconsin. Since the beginning of 2019, A.Y. McDonald Mfg. Co. has doubled the manufacturing space of their Tennessee facility with a 100,000 square feet addition and has undertaken the largest capacity expansion in the company’s history having invested millions of dollars in new machinery and automation. Their production workforce has grown 45% since the end of 2020.  In addition, parent company A.Y. McDonald Industries built a 100,000 square foot warehouse to house finished goods and maintenance supplies to free up additional manufacturing space in the 3 existing A.Y. McDonald Mfg. Co. factories.  
     
  • Cerro Flow Products, an Illinois-based pipe manufacturer that is part of the Marmon/Berkshire Hathaway Group – has 100% domestic manufacturing facilities and is currently looking to hire 23 individuals for good-paying union jobs as soon as possible at their Sauget facility. Cerro is also standing ready to add additional shifts at their primary mill, as well as utilize additional manufacturing capabilities at other Cerro sites as demand for water products increases due to federal investments. Cerro has also invested in new workforce development programs, additional upskilling for maintenance and electrical staff, and sponsors a tuition reimbursement program unique to the industry. 
     
  • Commercial Forged Products, an Illinois based company that does not normally make water parts, plans to invest $9 million in additional forging and ancillary equipment, while adding 15 new United Steelworker positions across multiple shifts, as well as hire 4 additional skilled machinists in its Bedford Park facility.
     
  • The Ford Meter Box Company, an Indiana-based company, is expanding its production capacity to meet private and public waterworks infrastructure demand in the long term, as well as lead service line replacement project needs in the near term. Ford has hired 40 new employees already this year, added new shifts, and invested in new equipment, all of which will increase production by 20%.  The construction of a new 300,000 sq. ft. state of the art foundry will be announced this summer, pending final site selection. The new facility, along with committed downstream manufacturing investment, will increase production an additional 42%. This nine-figure manufacturing investment is the largest expansion project in the company’s 125-year history. Additionally, the continued pursuit of a complementary “investment in people” includes a Manufacturing Support Specialist Program, a two-year training program to advance employees into salaried manufacturing, support, and administrative positions.
     
  • Mueller Water Products, an Atlanta-based company, has invested  approximately $150 million in three capital projects in recent years, expanding its U.S. production capacity due in part to the billions of dollars in water infrastructure investments made in the Bipartisan Infrastructure Law. The largest capital project is a new brass foundry located in Decatur, Illinois, which will significantly expand its capacity to produce products, including those commonly used in lead service line replacements. The new foundry, which will replace an existing aging facility, uses a state-of-the-art brass alloy to eliminate dependence on imported Bismuth from China and increases recyclability.  The new foundry – expected to be fully online by 2024 and employ United Steelworkers – and other production improvements are also expected to increase Mueller’s production capacity for brass and other water infrastructure products. Mueller already employs about 465 United Steelworkers in Decatur, and the firm’s investments will help replace 100% of lead service lines and deploy the largest single investment in U.S. water infrastructure.
     
  • Quality Steel Products, a Michigan-based firm that previously did not make components in the water space, has committed to expand its business to meet upcoming demand by adding employees and additional shifts, investing millions of dollars in new forging presses and equipment, induction furnaces, transformers and capital improvement process.

Through historic levels of funding from President Biden’s Bipartisan Infrastructure Law and American Rescue Plan, annual appropriations, and harnessing a variety of tools across federal, state, and local government, the Biden-Harris Administration is delivering tangible progress on the groundbreaking Biden-Harris Lead Pipe and Paint Action Plan to replace all lead service lines in America in the next decade.
 
All Bipartisan Infrastructure Law investments are subject to the Build America, Buy America Act, which requires iron, steel, manufactured products and construction materials used in infrastructure projects to be produced in the United States. President Biden’s Investing in America agenda is revitalizing American manufacturing, including in once hollowed out communities, and creating good-paying jobs across the country. Under President Biden’s manufacturing boom, nearly 800,000 new manufacturing jobs have been created, and private sector companies have announced over $480 billion in manufacturing and clean energy investments since President Biden took office. This week’s announcements provide further evidence his approach to industrial policy is creating good jobs and rebuilding our manufacturing capacity while ensuring every family can access clean, safe drinking water.