46th and current president of the United States
The announcement came just hours after Intel Corp said it would invest more than $20 billion in two new chip-making plants in Ohio in a massive manufacturing project that could benefit from federal funding in the years ahead. Biden is grappling with Americans' frustration over inflation running at a near 40-year high in part as the COVID-19 pandemic has snarled global supply chains.
"The House legislation will supercharge our investment in chips, strengthen our supply chain and transform our research capacity, plus many other key provisions," Pelosi said in a letter to Democratic colleagues.
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