President Biden: Making Chips in America

President Joe Biden held a virtual meeting Monday with CEOs and labor leaders to discuss the importance of passing the CHIPS Act. A bill in Congress aims to ease a shortage that has disrupted production in industries—from automobiles to electronics and high-tech weapons. The Senate bill, expected to pass this week, provides tens of billions of dollars in subsidies and tax credits for the semiconductor industry. That would increase production of computer chips here in America, reducing the nation's dependence on Taiwan.