The Biden administration has reached an agreement to provide up to $6.4 billion in direct funding for Samsung Electronics to develop a computer chip manufacturing and research cluster in Texas.
The funding announced Monday by the Commerce Department is part of a total investment in the cluster that, with private money, is expected to exceed $40 billion. The government support comes from the CHIPS and Science Act, which President Joe Biden signed into law in 2022 with the goal of reviving the production of advanced computer chips domestically.
“The proposed project will propel Texas into a state of the art semiconductor ecosystem,” Commerce Secretary Gina Raimondo said on a call with reporters. “It puts us on track to hit our goal of producing 20% of the world’s leading edge chips in the United States by the end of the decade.”
Raimondo said she expects the project will create at least 17,000 construction jobs and more than 4,500 manufacturing jobs.
It’s at least forty years of history. After Reagan ran the table in 84, the DNC caved utterly and completely and just about never recovered.
Just an endless stream of faceless, well coiffed men in khakis and oxfords blabbering about values or some shit. Such a pathetic run of losing that even against trump they dug deep and lost that one.
Important to specify how they caved - they capitulated to corporate interests, and started seeking bribe money in the form of political donations in return for political favors at this time.