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Biden Administration Races to Spend Funds Before Trump's Return
The Biden administration races to spend remaining funds from key legislation before the start of Trump's second term.
English
United States
PoliticsEconomyUs PoliticsInfrastructureLegislationFunding
White HouseCommerce DepartmentCongressGlobalfoundriesIntel
Joe BidenDonald TrumpNatalie QuillianMike Johnson
- Which key pieces of legislation are the focus of the administration's efforts?
- The Biden administration is prioritizing the implementation of the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act before the start of Trump's second term.
- What is the White House currently prioritizing before President-elect Trump takes office?
- The White House is rushing to distribute remaining funds from key legislation before President-elect Trump's inauguration. This includes semiconductor subsidies, climate grants, and aid to Ukraine.
- What challenges does the administration face in ensuring the laws' impact is felt by the American public?
- The administration aims to get the money out and agreements signed before the end of the year, acknowledging that it will take time for many Americans to feel the effects of the laws.
- How much funding has been announced from the three key pieces of legislation, and what is the timeline for disbursement?
- While approximately $642.1 billion has been announced from three key pieces of legislation, some funding, particularly for infrastructure, will not be available until later fiscal years.
- What is the status of semiconductor subsidy funding from the CHIPS Act, and what are some of the major companies involved?
- The CHIPS Act has allocated a vast majority of its semiconductor subsidies, but many awards remain pending, with some potentially announced this week, including major companies such as GlobalFoundries, Intel, Micron Technology, Samsung, and TSMC.