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Politics : Formerly About Advanced Micro Devices

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To: Wharf Rat who wrote (1414435)

8/14/2023 11:42:51 AM

From: Wharf Rat

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US Manufacturing Surges Under Biden Administration

U.S. Treasury Secretary Janet Yellen on Monday is set to talk up gains for domestic manufacturing, as she and other Biden administration officials hold events to mark the one-year anniversary of the Inflation Reduction Act.

“Powered by the IRA, the president’s agenda has helped drive a massive boom that is touching every corner of the country,” Yellen will say at an event in Las Vegas, according to excerpts from her prepared remarks that the Treasury Department released on Monday morning.

“Since January 2021, companies have committed over $500 billion in manufacturing and clean energy investments,” she will add. “The explosion in U.S. factory construction is a uniquely American story: one that we do not see replicated in other peer countries.”

The one-year anniversary of President Joe Biden signing the IRA into law is coming this Wednesday. The Democrats’ big economic package — which no Republicans voted for — is aimed at addressing climate ICLN change, capping drug PJP costs and raising hundreds of billions of dollars through taxes on corporations.

marketwatch.com

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