Biden to sign $280B CHIPS act in bid to boost US over China

WASHINGTON (AP) — President Joe Biden is preparing to sign a $280 billion bipartisan bill to boost domestic high-tech manufacturing. The measure is part of his administration’s push to boost U.S. competitiveness over China. The Rose Garden ceremony Tuesday morning comes as Biden looks to highlight a new law that will incentivize investments in the American semiconductor industry. The aim is to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods. The White House says Micron is announcing a $40 billion plan to boost domestic manufacturing of memory chips. Qualcomm and GlobalFoundries are announcing a $4.2 billion expansion of an upstate New York chip plant.