Transcripts For CSPAN President Biden Holds Meeting On CHIPS Act 20220726

Hi, mr. President. Pres. Biden how are you . I think weve got everyone here, so over to you to kick us off. Pres. Biden thank you for joining us for this important and timely discussion. We are here to talk about the importance of passing the chips for america act, to strengthen our National Economic security. Two categories, first being National Security and the second being Economic Security and opportunity embedded in the legislation. But we wanted to really try to zero in onm going to turn this o brian to get it started. Thank you mr. President. We are joined by members of your economic and National Security team, as well as business and labor leaders from across the country. We thought that we would try to divide this into two categories. The first being the National Security implications in the second being the Economic Security and opportunity embedded in this legislation. We wanted to zero in on both the urgency of acting and of congress as you say acting without delay, hopefully today and in the coming days. But also, the opportunity for the country and for our National Security as well. So with your permission, we will start on the National Security side and taking this off, we will go to the ceo of Lockheed Martin. Youve had the opportunity to visit their facility in alabama earlier this year and jim, i was hoping that you could for the president and all of us, give us your sense of the broader National Security concern here and also the ways in which Semi Conductors feed into the strength of our National Security industrial race across the country. Thank you, brian. Good afternoon, mr. President. Pres. Biden good afternoon, jim. We believe a robust security supply of microprocessors is essential to National Security and the health and Defense Industrial base of the Aerospace Industry as a whole. Mr. President , when we visited the javelin production operation in alabama as brian mentioned, we were talking to the teams that actually billed the product, build the javelins. And they mentioned that, as you might recall, each of those javelins requires 250 microprocessors for each and everyone. And if we look at a larger product, a helicopter, such as the one we are building for the u. S. Marines today, there are over 2000 microprocessors in that helicopter. So, when we go on to networking and adding in autonomy, under a 21st century National Security architecture that we are building, microprocessors are going to get more important. It is critical to increase u. S. Production and test capacity. There are a couple of reasons it is important. One is trust. We have got to have confidence in the security of the hardware itself and it has not been tampered with or degraded when we receive it and put it into aircraft and missiles, satellites etc. Right . We want to have made in the usa access to the latest cutting Edge Technologies, to put into the systems that are sailors, marines, airmen and soldiers are going to be using in our defense. And you know, we are in an era of renewed Great Power Competition as well and in an era like that, we need to revitalize the u. S. Semi conductor industry. It is imperative to maintain an effective deterrent for the future to keep our country safe. Today our company, our suppliers, we have gotten adequate access largely to Semi Conductors if need them to produce, mr. President. Because much of the production is in china and taiwan, access to be guaranteed for u. S. Industry, including the defense industry, is fragile. And should china woodside decide to withhold production or prohibit taiwan from exporting chips or building them, we would have a serious economic and eventually National Security issue on our hands. So given the long lead times were producing and building factories, it is important and urgent to rebuild u. S. Semi conductor chip manufacturing in the u. S. Pres. Biden jim, i am glad you mentioned security. To be secure, whether we are putting in a Weapon System or helicopter or anything that we have, that we are assured that no one has been able to tamper with that. That it is made in america, built in america, stockpiled in america. I think it is really important. And by the way, i was impressed with your workers down in alabama when i went through the plant. I was there for several hours, as you know and i think they really, really take their work seriously. And so passing this legislation, how does this make a difference in how and how does it ensure our systems are going to stay on the leading edge . Its one thing to say under interrupted access. Uninterrupted access grade we make it and build it in america, but tell me, talk to me a little bit more about how this ensures the system stays on the leading edge. We are moving forward rapidly, mr. President , both in physical technologies like hypersonics, really advanced space sensors, stealth aircraft like the f35 etc. But we are also inserting what we call 21st Century Digital technologies into the system as well. Those are things like 5g, ai, distribute it Cloud Computing. We need the latest. Sub 10 nanometer chips. We need them to be trustworthy. Those capabilities in the service of sailors, marines and aviators. So we have gotten a lot of emphasis and a lot of employments on those latest technology chips, because they are the Building Blocks of those Defense Systems of the future. Pres. Biden am i correct to assume that the more sophisticated systems are going to be coming along, the more it is just inevitable, the need for availability of these high end computer chips are available to us, made in america, here in america . Is there a correlation there . There is a total correlation mr. President. You cannot conduct 5g distribute it Cloud Computing operations with Legacy Technology chips and we are going to have to stay on the cuttingedge of those Building Blocks, like as i mentioned earlier, to be able to deliver that for the country. It is really important that we do not see our leadership in Semi Conductor technology ultimately manufacturing tests outside of the u. S. Because like the russians did with natural gas recently in europe, if china can constrain its own production and distribution of chips to us or they pressure or otherwise inhibit taiwan from doing so, the Global Market is going to be upset. It will go beyond the defense industry, but from National Security perspective, i think this is a high priority. Pres. Biden thank you very much. Again, you should be proud of the folks down in the factory. I was impressed. He seemed to be not just doing a job, but they had a mission. I am serious, it was great to see, great to see. Anyway, thank you. It meant so much for all of them to see you, mr. President. Thanks. Pres. Biden thank you. Mr. President pres. Biden its all yours. I wanted to ask deputy secretary to come in here to put the risk and the threats that jim is firming up in a broader perspective here. Secretary hicks if you could start in talking about the core security risks that you think are in play here, when we are talking about Semi Conductors . Ms. Hicks absolutely. Jim did a great job laying out the dependency that we have on the defense side, that our military has on advanced microelectronics. Whether it is the javelins we saw down in alabama or the f35 joint Strike Fighter that Lockheed Martin puts out, to our Nuclear Weapons forces and of course, as we look ahead to the future on emerging technologies, just as jim said, quantum, ai, hypersonics, 5g, 60, next g. All of that is heavily dependent on ensuring access to microelectronics. We are not the only ones focused on this challenge. China is also focused on this challenge today. Approximately 98 percent of those commercial microelectronics, that dod is so dependent on, are packaged and tested in asia. As jim said, we need to make sure both that we can assure our access in that we can have the most advanced capabilities that the commercial sector can offer. So Semi Conductors, it is not an overstatement to say, or the ground zero of text competition with china. They are able to have heavy subsidies. They weaponize the financial incentives to facilitate their acquisition of intellectual property. They are building indigenous microelectronics capabilities and they are doing everything it takes to become the center of gravity or Semi Conductor r and d in manufacturing. So for the u. S. Military, as we look ahead to what we need to make sure our war fighters have what they need to succeed on the field and that they can have security in using those capabilities, we know we must secure a supply chain and domestic investment here in the United States. The chips plus act will help us substantially return leading edit microelectronics to the United States, deliver a winning combination of design, System Integration into manufacturing it will help us build commercially viable, which is critical for us in dod. Stateoftheart application facilities. And that helps our commercial sector of course, but i cannot stress enough of much that helps our military. The resources provided for the chips for America Defense Fund inside the chips plus act funds innovative prototyping, extremity and. It allows us to train our next generation of scientists, engineers, tech onto manures. And it will assist us tech entrepreneurs. It will assist us to create art leading edge Weapon Systems. By creating opportunities to onshore Electronic Assembly and testing, the chips plus act solves these two important, critical, pressing microelectronics challenges facing our military. Both this issue of making sure we have assured access and also, making sure that we can have stateoftheart technology to our war fighters. Thanks to jim and kathy, who i think have summed up the case powerfully. I will be brief. Expanding on why the chips act is so essential for both our National Security and our strategic competitiveness. Making investments in cutting Edge Technologies is on one level obviously necessary to ensure that we stay ahead of china in the race or the industries of the future. Because as others have pointed out, as the president has pointed out, for the first time, we face a competitor that has the means, resources and commitment to overtake the u. S. Technological leadership if we do not up our game. But we have the means capability and resources to stay on the leading edge, to keep our Technology Leadership if we make the necessary investments and this is the necessary investment. On another level, we need to mitigate the enormous risks to our security that we face right now today due to vulnerabilities in key u. S. Technology supply chains that were exacerbated by the covid19 pandemic. In particular, passing this legislation and fully funding the chips act is crucial for strengthening our domestic supply of Semi Conductors, for our defense, intelligence and strategic sectors. The bottom line is that continuing our dependence on a limited number of overseas facilities, to produce so many of the chips that we consume, including all of our most advanced chips as of right now is flat out dangerous. And a disruption to our chip supply would be catastrophic. So, i am both excited and relieved that we are on the cusp of addressing this fundamental national vulnerability. The longer we wait, the more dangerous the disruption. We also understand that strengthening supply chains is a job we do in concert with allies. We see cooperation as essential in this regard and with this bill, we will contribute our part to diversifying and securing our shared chip supply chains. We welcome our allies making their own investments as well. One final note, as much as we need to get the chips piece of this build on, it is chips plus because chips alone are not going to be sufficient to preserve u. S. Technology leadership, which is why we need the rest of the innovation, so that we invest not just in core technology, power and innovation, but also technologies that Power Technologies tomorrow. That is why additional authorizations for the National Science, the department of national labs, other institutions that are contained in this bill, are so important so, what it comes down to is there is bipartisan consensus. Support for business, support from labor. Support from the National Security Community Across the board and there is support from the american people. To pass the legislation, meet the moment and face the vulnerabilities. Pres. Biden i would like to ask you a question, if i can. Youve heard me say it a bunch of times the last 15 months or so, that is it used to be 30 years ago or longer, he invested more than 2 of gdp in research and development. We it got down to. 7 of 7 10 of 1 . And china and others had moved to invest more, particularly china, in research and development. Your research development. And you say the second piece of this bill, not truly a defense piece. But what i agree more on, what we hope will encourage the research and development that we are talking about or are we, in that regard . Absolutely. As i was saying, our ability to maintain our innovation edge, to maintain Technology Leadership rests on having necessary inputs like chips, but it also rests on, as you just said foundational investments in the industries of the future. Investments in basic research. On everything from Artificial Intelligence to quantum computing, to biotechnology, to the future of the internet and the future of telecommunications. The country that is able to be out in front, to be leading the world in those areas, not only will have a powerful economic competitiveness that will be reflected in job creation and the growth of a strong middle class but also will have powerful National Security advantages. And those are National Security advantages that have sustained americas Global Leadership over decades. By making this big investment, which is something that you have talked about for years now, to actually get it done, is going to make a massive difference in our ability to be able to maintain our Competitive Edge with respect to the industries of the future. In doing so, it will help us shape the rules of the road on technology, on these important technologies. In a way that reflects our interests and values and does not leave them to be written by a competitor or a challenger of ours who does not share the same values. Pres. Biden that is an important point. The point is that we have, as we have led the world in research and development and generating new technologies, we share progressive morals. Not just using it as an economic weapon. We have expanded and our partners, the democracies of the world, have benefited. It seems to me that this makes up part of that. Madame secretary, can i ask you a question as well . You responded to jims comments, gave your views on the core security risks in play. What, from your perspective, what are you able to prioritize what risks are greater or less security risks . Thats a tough question because who knows for certain, but dont mean to put you on the spot, but is there a way of forming a little bit . Sure. I think in todays Weapon Systems, what we worry about most is the compromise of these i chain, of the chips in our existing Weapon Systems, or the upgrade, as we always have to do, and put new chips in. Those are as i said largely depended on the commercial market. For whatever those chips may be. So, we know that there have been others adversaries who have sought to affect our chip supply , have sought to alter that. Just making sure that we can assure that when we put our war fighters out, their weapons will operate as intended and that we, the United States, retain control of that technology is incredibly important. I would put that at the top. And i would put second to that this issue of capabilitys for the future. The kinds of kit abilities that make sure war fighters are safer, more ready, can deliver affects in a way that deters adversaries from ever wanting to attack the United States. For that, we need the next generation, most advanced, most capable microelectronic supply chain to be secure. Pres. Biden that is important. What thank you very much, brian. Thank you. Thank you mr. President. So were going to pivot from the National Security case, which i think you have heard is both compelling and urgent, to the Economic Security element to this. And obviously, as we make these investments, our goal is to generate durable Economic Opportunity here in the United States and the opportunity there is quite significant. We are going to bring in jeff and tom and mark and chris into this conversation. To frame this up at the beginning, i want to ask secretary raimondo to give us this broader perspective on the economics and the coming addition to being tireless on this efforts. Secretary and the Commerce Department if passed would be given the principal responsibly for lamenting this legislation. So madame sec. , if you could tee up what you see as the economic context and then we want to bring in jeff and tom and mark and krista the conversation. Ms. Raimondo thank you, brian. Good afternoon, mr. President. Good to see you and thank you for convening all of us on this incredibly important topic so, look, i think the most important thing congress can do right now to support americas economy and americas workers and our Global Competitiveness is to get this chips act over the finish line and onto your desk this week. It is vital. You know, the chips act proposes a 52 billion investment in domestic Semi Conductor production. Which will enable us to revitalize our domestic Semi Conductor manufacturing. The truth of it is we invented the Semi Conductor industry. Right . Silicon valley is Silicon Valley because we invented it in the United States of america. We used to make 40 of the worlds chips. We make about 12 now and as jake said, we make essentially none of the leading edge chips. And we are utterly dependent on taiwan for the leading edge chips. So, in terms of Economic Security, chips are a Cornerstone Technology that underpin our entire economy. You need them for smart phones, computers, cars, medical equipment, nearly every piece of lifesaving medical equipment in a hospital runs on chips. And the reality is while we have invested nothing to spur domestic chip manufacturing, china has invested more than 150 billion to build their own domestic capacity. So we are very much behind and the ceos who are with us this afternoon, they know. America has become totally reliant on china, particularly for the majority chips, the larger chips that are necessary for medical devices, aircraft, industrial machines etc. The reality is it is not possible to have a Strong Economy and a strong country if we do not make things in america and certainly, if we do not make chips in america. So right now, chip manufacturers are finalizing their investment plans. And the passage of the chips act is necessary, it is urgent, because the chips funding will be the deciding factor on where those Companies Choose to expand. We know they will expand, because they have to, in order to meet demand. There is no question about that. The question is where will they expand . And we want them, we need them to expand here in the United States. We want high quality good paying jobs in america. And, you know, the truth of it is, as ive said all along, this chips money is not a subsidy for Big Companies to make them more profitable or so they have more cash or stock buybacks or to pad their bottom line or to invest in other countries. This is about investing in the United States of america, in our workers, in our economy, and in National Security. We need congress to act, so we send a clear signal to the world. That we are serious about rebuilding our domestic manufacturing industry. It is good for our economy, it is good for competitiveness and it is good for american workers. Thanks, gina. I want to bring in jeff. You and tom into this conversation. And maybe start with you, jeff. The secretary just mentioned, but some people were surprised to understand the health care nexus here. But can you just elaborate a bit on how you see the systemic impact on the health care industry, both on the risk side, but also the opportunity side, when you are thinking about Semi Conductors in the security of supply of the chips. Sure. First of all, thank you mr. President , for including me in this really important conversation. It is a real honor that the medical industry brian, as were saying, one of the most critical aspects of our ability for medical technology at large to get life saving and Innovative Medical Technology to patients is Semi Conductors. They are essential components and thousands of medical devices , secretary raimondo is referring to, that americans rely on. Things like instruments that enable surgery or devices that manage chronic conditions like an insulin pump or a diabetes patient or a pacemaker for a patient with an irregular heartbeat. Or even treating covid. We manufacture Pulse Oximeters that measure oxygen in the blood and ventilators for patients that are really sick with covid. Our industries volumes are relatively small, small compared to some other sectors. We are in the low Single Digits of the overall chip market, but every Semi Conductor every Semi Conductor component used directly impacts a patients life. And now, we appreciate the efforts of the Semi Conductor companies to try to alleviate the current constraints with additional investments, but work capacity is needed. That is why i have been a vocal supporter of the chips act for a while in urging congress to pass and fund this act. Look, beyond the manufacturing and we deftly need me in a factory in the u. S. To increase our capacity, we need research and development as well. So if passing this act will solve all the problems overnight, the investment will result in new info structure, will spur innovation, increase supply. This will help us solve these supply constraints that we are under sooner, but more portly, it will help us avoid these challenges going forward. I mean, you know, at med tech we have done our best to manage the situation with limited supply and we have been nimble enough and adaptive enough to avoid major disruptions to patient care, but there have been disruptions and there are ongoing disruptions to patient care. This puts a strain on an already strained Mental Health care environment. The hospitals and healthcare workers, as we are try to move inventory around to cover cases. This shortage on Semi Conductors is predicted to go on for sometime. Investment is needed and as secretary mondo mentioned, the types of chips that we need that are larger and are much more efficient on energy are the ones that are the most in most critical, you know, demand right now. And the shortest supply. And in terms of opportunities going forward, shifting years as you mentioned, you know, we are at a great Inflection Point of in health care, where youve got traditional biomechanical or Biomedical Engineering advances and you are combining those with investments in the Digital World and the use of appropriate use of data to really customize a therapy for a patient. I will give you one example. You know, a patient suffering from parkinsons would often get a stimulator to apply low amounts of stimulation to a certain part of their brain, to control the parkinsons symptoms, which are very difficult to live with. Historically, those patients would have to come into their neurologist to get that device reprogrammed on a pretty frequent basis, because the disease is a progressive disease. But now with the computing capabilities that are out there and the use of data, we can do that all remotely. And actually customize that therapy for the individual patient and the outcomes are just much better and the strain on the Health Care System is much less. I can give you thousands of examples like that, where the use of chips inside devices, on the edge, in the cloud, the advancements of Computing Power are being harnessed to change patient care in such a profound way, improving outcomes. Improving access and you are bringing down the cost at the same time, so that is the exciting part that we want to accelerate. But it is really hard right now, given the Semi Conductor supply that we are facing. Thanks, jeff. Tom, i wonder if you could offer your perspective. We have heard a lot about the concerns of the transportation sector. But also the constraints but also the Vision Forward to the electrification of the transportation sector as well. We would welcome your thoughts here. Thank you. Mr. President , its good to see you so well, thank you for the opportunity to join this group of thought leaders from government and industry and labor. On the importance particularly of innovation for the Semi Conductor industry. Mr. Linebarger i think you know that we are a 100yearold company headquartered in columbus, indiana. Over 25,000 employees in the u. S. And we Work Together to innovate on solutions from the industrial sector. It is remarkable how much jeff and i have in common with our perspective on Semi Conductors from completely different sectors. Like others at the table, we are facing the supply chain crisis. We are unable to get the components that we need and Semi Conductors are always at the top of the list. Semi conductors are really the basic Building Blocks, they are the steel of the 21st century. They are what make everything happen in the industrial sector, just as they do in the medical sector. We appreciate the administrations focus on the bottlenecks and challenges we are basing and your continued support of securing Semi Conductor funding in congress. The Semi Conductor shortage has not only impacted our ability to meet customer demand, but the technology and equipment we need to run our operations, we rely on Semi Conductors to power machines, to put electronic and troll modules in engine systems that control admissions, even to make badges for employees, so that they can come back to work. In cummins case, we also found before range of Semi Conductors, so i want to highlight how important that is. Jim talked about will be called legacy chips, these are larger scale chips. They are more efficient and in this case, there are more robust in our case. They live in engines that serve some of the most demanding applications. Those legacy chips are just as important as the new technology and the latest chips are for the defense industry. Those legacy chips are what power the trucks, cars, and many other basic Building Blocks of our economy today. You know, these chips deliver our food, they make sure that our generators at our hospitals and data centers, they make sure on the hottest day of the summer you got air conditioning and on the coolest day, youve got heating. In addition to any factoring, costs have as glitter. Supply chain crises and some of the effects that secretary raimondo talked about have seen cost increases. We are often vying chips from brokers now and paying as much is 10 times the regular cost to get these chips, just to make sure that we can keep trucks on the road. Driving inflation in our industry and challenges throughout our supply chain. I would say the Semi Conductor manufacturing, as all of us know, requires high capital investments. And the return for those investments, especially for legacy chips and more basic chips, is not as high as it is for the latest edition chips. I think that is why some of this funding is so critical, to ensure the kind of investments that we need and made in the United States are paying. We believe that the chips for america act will ensure not only the hightech chips are made for the innovation of tomorrow, which is critical, but also that these basic and legacy chips are also provided as part of our supply chain. In addition to the Semi Conductor funding, this bill also provides critical funding for the National Science foundation and other agencies that will ensure that we are keeping pace with the investments made by other countries for their domestic manufacturers. The way that i think about that is that these the investments made in the chip act are going to move us from wringing our hands about where we sit in competition with others to actually moving out of the field and helping the u. S. Manufacturers compete. And i think we all know that when u. S. Manufacturers compete with the workforce that we have in the capability is that we have, we can win. Thank you, tom. Mr. President , with your permission, i would just ask chris to come in here too, that last point tom that you made, i think is very salient. That would be that this is a bill that is also about opportunity for americans, workers, and for the opportunity to build good jobs, good jobs in construction and installation and operation of both the facilities to produce chips themselves and the larger and broader ecosystem. So chris, give us your perspective from the ground of how you are thinking about this bill and where you see the opportunity for american workers. Chris, if you can hear us, i think you are muted. Sorry. Thanks for inviting me, mr. President. We are really grateful to be here because as far as we know, cwa is the only Union Representing manufacturing workers at a final assembly Semi Conductor factory in the United States. And we have been strong supporters of the chips act. The chips at is a key component of although it has created good jobs in the u. S. , of strengthening our ability to compete with china. Passage of the bill is going to drive a huge amount of investment in the country. It will result directly in tens of thousands of jobs to help grow a key component of our Manufacturing Sector. As i mentioned, cwa already represents hundreds of workers in mountaintop, pennsylvania, right down the street from the president s hometown. Who manufactured Semi Conductors. The only plant that we know of in the United States that is union represented. With the passage of this bill and the growing investment in Semi Conductor production, im expecting to be able to help organize thousands of additional workers. For those workers, this bill will be a ticket to a better life. Im glad that the bill includes key protections to prevent companies that receive the money from turning around and investing in Semi Conductor production in china instead of the United States. That means that it will help us grow this industry right here in the usa for the long term. And it actually goes far beyond that. This bill will help prevent us from having to face the situation when it the Numerous Industries that depend on Semi Conductors, thats just about every industry, are simply unable to acquire them ever again. This built was a key part of rebuilding our Manufacturing Sector as a whole. There is no question that we need a comprehensive approach to compete and to take on chinas unfair trade practices. This bill is a great first step in putting that approach together. I hope that Congress Sends this bill to your desk, mr. President , as soon as possible. And continues working to strengthen our competitiveness and create good jobs for american workers. Thank you. Pres. Biden thank you, chris. Mr. President we have lost mark for the time being, so let me turn it back to you, mr. President for any questions that you have or closing comments here. Pres. Biden i do have a couple of questions for tom. I would like to go back to him for a second. You know, tom, since i took office, there has been a massive investment in electronic vehicles. The ev batteries. I know cummins is on the cuttingedge of fuelcell and battery electronic technology. These technologies are used use more Semi Conductors and how is this legislation going to make a difference for you, in terms of accelerating your innovation . And i might add, in the act we passed for infrastructure, we have an awful lot of money for putting in electronic charging stations all throughout america, along our highways and the like. That does not even count the Battery Technologies that we needed to develop other things. Talk to me a little bit about the technologies and use of Semi Conductors and why that will increase. And how that is going to affect innovation. I know that is a broad question. Its a great president its a great question, mr. President and thank you for asking it. The use of Semi Conductors in cars, trucks and other Industrial Equipment goes by an exponential scale effect. Every single new range of models, you see an exponential increase in Semi Conductors. That is part of the reason why the industry is so far behind now as demand increased for vehicles, they did not do the math right about how many more of these legacy chips they are going to need. As you say, as we move into electric vehicles, fuel cell vehicles, burning hydrogen, we are going to need exponential curve is going to keep growing. And i would say that in addition to the fact that we need more Semi Conductors, newer versions, more capability to invest, we want to establish leads in those technologies, so that we can sell those climate improving technologies to the rest of the world. That is really the way that the u. S. Industry builds. We solve the problems that we need to solve in the u. S. And then we use that same technology to export those products to the rest of the world. We get 95 more customers. That is essentially how cummings built its business. That is a lot of us. We have benefited from that, when we job at jobs at home and build overseas. I think we have a big opportunity here, but we need to invest now. The time is running out for us to get to the lead. We already see europe and china and other places moving faster in battery, electric and fuel cell technologies. We have to sprint to catch up and of course, the infra structure bill was a big help there. I think there was also hydrogen that is going to be needed in the Semi Conductor industry. And we and other companies in the u. S. Offer the provision of hydrogen using green energy and then we have green hydrogen, so we did carbonized the industry significantly as well. There are a lot of upsides for us investing here in the u. S. In terms of building out that clean energy portfolio, which allows us to lead for decades to come. Pres. Biden i could not agree with you more. It seems to me that, you know, i joke i dont joke because im serious. When i think of climate change, i think of jobs. And i think that there are so many opportunities that we have. People understand or they dont even realize that if we just get our act together and congress would be able to do a heck of a lot more to create literally thousands and thousands and thousands of good paying jobs. Let me shift over, im going to ask mark as well, but chris, thank you for all of the support you have been giving in this effort. It was a top priority for me to ensure that incentives for Semi Conductors have a prevailing wage requirement. These Semi Conductor projects, they are billions of dollars and thousands of structured jobs at each of these sites. How are those requirements going to make sure that jobs that those jobs are good jobs . Is there a correlation . Yeah, to make sure that people if there is a race to the bottom, that there will be an even Playing Field for the people working in this industry and the people working on building the factories that will build Semi Conductors. And you know, these requirements will make sure that that happens and that, you know, no one will be left behind. And it will give us really, really Good Union Jobs mostly, to make sure that the factories are built by union workers. Manufacturing is done by professionals, union people, who really care about what they are doing and will stay on the job will stay on the job because they are making good wages and have a good job. Pres. Biden union labor, you all and all the folks working for you essentially have a College Degree in the technology that they are working. You just dont join a union and all of a sudden everything falls into ways. Youve got to go to school, you got to be trained, you got to be in a position to be able to do what you do better than anyone in the world does it. And so, that was one reason why i am pushing. And you know, some of the facilities, one god willing will be built very shortly, it was announced a while ago. And what happens with this legislation now is one outside of columbus, ohio. It is going to create a whole lot of jobs, it is going to create a lot of jobs. It is also going to create a lot of jobs building the facilities. And it matters a lot, it seems to me. And i see it in all of you, i think we will be a lot stronger as an economy and be more sustainable will be billed from the bottom up and middle out. When that happens, everyone does well. Business does very well, the wealthy do very well and i think weve got a shot as we move down the line here. This chips bill is an important piece of it, to be able to stay in the game, be the most competitive nation in the world. That is what we have to be established. We still are in a lot of places, but we have got to do it here. But i dont know, chris, talking about the benefits, workers, commit occasions, the Media Industry as well as manufacturing jobs and resilience. Do you guys talk about that . Do you worry about whether or not that is going to happen . Is that something when youre sitting around that you guys actually discuss in practical terms . We talk about it every day, mr. President , because we see what is happening. We see that lots of industries, as some of the ceos said, lots of them cannot build or make whatever it is they make, because they cannot get Semi Conductors, for instance. And you know, when it is another country making these things, instead of Good American workers , they can always stop. And they do stop. We see this happening every day. You know, we worry about what is going to happen to this country if nothing is ever made here again. If we do not make it here, we cannot be sure that it works and that we are going to be able to use it. Pres. Biden we have increased manufacturing even though we have missed opportunities. But we have increased manufacturing here at home. Look, i want to thank everyone for joining me. I know i have kept to a long time here. The chips act, in my view, is going to advance the nations competitiveness in our technological edge. You know, we have been working closely with the senate and house to finalize a strong bipartisan bill. Congress must pass this bill as soon as possible. So we can get it to my desk, sign it and get it moving. I know we just talked about it, but for the folks at home, let me explain why this is so urgent. First, there is an economic imperative that we just heard. This bill is going to supercharge Semi Conductors. Those tiny chips the size of a fingerprint, which is some are at large, but the size of a fingerprint. They power our everyday lives in america. They are the Building Blocks for the modern economy. They are in everything from smartphones to dishwashers to automobiles. I could go on. America invented Semi Conductors, but over the years, we let the manufacturing of Semi Conductors get sent overseas and we saw that during the pandemic, when our factories overseas that make these chips shut down because covid was a big reason for it. The Global Economy basically comes to a halt. Driving up the cost for families all around the world, particularly here at home. One third of the core inflation last year in 2021, one third of it was due to the high price of automobiles. You know what . That is driven by the manufacturing of more automobiles. By . The shortage of Semi Conductors. One third. Even as we had the historic job growth and Economic Growth last year, we sacrificed 240 billion of additional Economic Activity because of a chip shortage. So for the sake of the economy and jobs, we have to make Semi Conductors here at home, at home. Second, as you heard, there is a National Security imperative. As Deputy Defense secretary hicks and Jake Sullivan pointed out. Semi conductors also power our weapons systems. And generally this year, in january i went down to the lockheed factory in alabama where they are making the javelin missile. That was flying to ukraine to defend themselves against putins work. It is Crystal Clear to me that we needed Semi Conductors. Crystal clear, not only for the javelin missiles, but also the weapons systems. We are going to be more reliant on chips. Unfortunately, we are not producing enough of them. Taiwan, 90 the leading edge chips. We produce zero. China is moving ahead of us in manufacturing sophisticated chips as well. As we watched u. S. Production of these chips decline, from 40 Global Production to 12 , at the same time we watched china go from 2 to 16 . Chinas goal is to reach 25 . To produce 25 , to become fully selfsufficient. It is no wonder china is watching this so closely and actively lobbying u. S. Businesses against the bill. America invented the Semi Conductor. It is time to bring it home. Bring it home for all that we need for our security and Economic Growth. Third, this is not just me signaling, listen to the Business Leaders here today and across the country. They are making decisions right now, where to invest and ramp up production of Semi Conductors. Are they going to invest in china, india, japan, south korea, the European Union . They are all making historic investments of tens of billions of dollars to attract businesses to come to their countries, the countries i just named, to produce these chips. The United States has the lead has to lead. For our own safety sake as well as Economic Growth. That may be clear, this will is not handing out a blank check to congress. Commerce secretary raimondo said the key investments of the bill lay focus on the guard rails that will protect taxpayers dollars and in the interest of the american workers, small businesses, and the communities in which they reside. The bill that i personally have to sign up on the biggest grant is not sufficient. Ive have to sign off on the big ones. Secretary raimondo will have the power if companies do not meet commitments, she can take back the money. This includes the requirement on construction of the Semi Conductor facilities to pay a wage which will ensure tens of thousands of construction jobs that are good paying union jobs in the facility are the best in the world. We are not allowed were not going to allow companies to use these funds to buyback stocks or dividends. But to invest. Finally, this bill is about more than just Semi Conductors. It authorizes a significant investment in American Science and technology, which i mentioned earlier. We have a need to power our economy for the decades to come. We make those decisions now. And the bill has requirements that when e. U. s taxpayer dollars to Fund Research and development, when you use taxpayer dollars. You have to deploy that technology that comes from that r and d in the manufacturing of it right here in america. You get the money, they invest, they find a way, they find an answer, they have to invest in american facilities. You know, we are inventing american and making american. Making sure to include all of america, tapping into the greatest competitive advantage of our diversity and talent workforce. Thank you to ensure that the technology of the future does not just benefit shareholders, but support Technology Hubs all across america, including historic investments in historically black colleges and universities and minority serving institutions, which have become passive to do so much more given the opportunity. Look, i will be back to you god willing, but i want to thank you again for joining me today and for the work in getting this bill to this point. So, we are close. We are close. So lets get it done. So much depends on it. Thank you all for helping today. I truly appreciate it. Mr. President , how are you feeling with covid . Pres. Biden im feeling great, even though i have had two full nights of sleep all the way through. Matter of fact, my dog had to wake me up this morning. My wife is not here. She usually takes amount in the morning while i am upstairs working out i felt the nuzzle of my dogs nose against my chest at five minutes to seven. So im feeling good. My voice is still raspy. I have had every morning and every afternoon, every evening i get a full blood test. Everything from temperature to oxygen of my blood, to my post. I mean, it is acrosstheboard. So far, everything is good. Everything is on the button. And so, i am feeling better today. I still have a little bit of a sore throat and a little bit of a cough, but it is changing significantly. It is in the upper part of my throat. It is more around my nose than anywhere else. And they tell me thats par for the course. And i think i am on my way to full and total recovery. When do you think you be back to work in person, mr. President . Pres. Biden i hope i am back in person by the end of this week, but as you know, i have been keeping a full schedule. I have done for major events today and i did not start today until 9 30, but and i will finish today probably by what time is it now . I will finish about 6 30. Im not keeping the same hours, but you know, im eating all the requirements that come before me and we are making decisions on a whole range of topics as well. That is my expectation, but i will let you know when i can set that up. Mr. President , we are gdp numbers on thursday. How worried should americans be that we could be in a recession . Pres. Biden we are not going to be in a recession in my view. We the employment rate is still one of the lowest we have had in history. It is in a 3. 6 area. We still find ourselves and pe here is what is coming up tonight on cspan. Deputy commerce secretary don graves talks about the biden administrations efforts to strengthen u. S. Trade. Then we hear about the role social media has in democracy. Later, President Biden discusses domestic computer chip legislation, which the Administration Says will help strengthen u. S. Competitiveness in manufacturing. Cspans washington journal. Every day, we take your calls live on the air on the news of the day and we discussed policy issues that impact you. Coming up Tuesday Morning, we talk about the recruitment challenges facing several military branches and what that means for all volunteer forces in the future with retired Lieutenant General thomas. And producer bonnie talks about her new pbs frontline film facing addiction focusing on addictions that occurred during the coronavirus pandemic. Washington journal live at 7 00 eastern Tuesday Morning on cspan or on cspan now, or free mobile app. Join with Text Messages and tweets. Tuesday morning i hearing on the safety of Law Enforcement officers including the impact of assault weapons and gaps in gun laws. Watch the Committee Live at 10 00 eastern on cspan, cspan now our free mobile video app or online at cspan. Org. Live sunday, august 7 on in depth talkshow host larry elder will be our host to talk about he is the author of several books including 10 things you cannot say in america, what does race have to do with it and a lot like me. Join into the conversation with your phone calls, facebook comments, text and tweets. Live sunday, august 7 at noon eastern. Cspan is are unfiltered view of government funded by these Television Companies and more including comcast. Do you think this is just a Community Center . No, it is way more than that. So students from low income families can get the tools they need to be ready for anything. Comcast supports cspan as a Public Service along with these other providers giving you a front row seat to democracy. Deputy commerce secretary tom graves spoke about the biden administrations efforts to strengthen u. S. International trade. He responded to questions on legislation expected on the Senate Floor Today that provides grants to the u. S. Computer industry. The center for strategic and International Studies hosted the discussion. It runs 50 minutes. Deputy commerce secretary tom graves spoke about the biden administrations efforts to strengthen u. S. International trade. He responded to questions on legislation expected on the Senate Floor Today that provides grants to the u. S. Computer industry. The center for strategic and International Studies hosted the discussion. It runs 50 minutes