Biden to press for $37 billion to boost chip manufacturing amid shortfall

Biden also signed an executive order on Wednesday aimed at addressing the global semiconductor chip shortage that has alarmed theThe scarcity, exacerbated by the pandemic, was also the subject of a discussion between Biden and a bipartisan group of US lawmakers at the White House on Wednesday.

The chip industry has pressed the Biden administration and Congress to take action to fund the provisions of the law."We urge the president and Congress to invest ambitiously in domestic chip manufacturing and research," the Semiconductor Industry Association said earlier on Wednesday. The United States has been besieged by supply shortages since the onset of the pandemic, which squeezed the availability of masks, gloves, and other personal protective equipment, hurting frontline workers.

Democratic lawmakers present at Wednesday's meeting were Senators Mark Warner, Tammy Baldwin, Tammy Duckworth, and Maggie Hassan along with Representative Doris Matsui. The Republicans comprised Senators John Cornyn, Mike Braun, Marsha Blackburn, Rob Portman, and Representatives John Joyce and Michael McCaul.Ford Motor said a lack of chips could cut the company's production by up to 20% in the 1st quarter.

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