Biden to press for $37 billion to boost chip output amid shortage

President Joe Biden, pictured here in a file photo, signed the new executive order on Wednesday afternoon. (BLOOMBERG)

By:

Reuters

February 24, 2021 11:59 AM

President Joe Biden said Wednesday he would seek $37 billion in funding for legislation to supercharge chip manufacturing in the United States as a shortfall of semiconductors has forced U.S. automakers and other manufacturers to cut production.

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