March 18 – Indiana Governor Eric Holcomb helps make a sign at the White House | fwbusiness
WASHINGTON — Speed kills, but when it comes to manufacturing, slowness kills business, Indiana Governor Eric Holcomb noted during a speech at a White House event earlier this month. to discuss bipartisan innovation and competition law.
The governor expressed his desire, alongside President Joe Biden, that the provisions of this legislation be enacted as soon as possible in the hope of helping to reduce bottlenecks in the manufacturing sector.
Holcomb was invited to Washington for a roundtable with Biden, Commerce Secretary Gina Raimondo and company executives from the semiconductor industry to discuss the bipartisan US technology and communications bill, foreign relations and national security, national manufacturing, education, trade and other topics.
Holcomb attended in person with Michigan Democratic Governor Gretchen Whitmer, as well as corporate representatives from Whirlpool and Cummins, while officials from Micron and Samsung attended virtually.
The Innovation and Competition Act, drafted by Senate Majority Leader Chuck Schumer, D-New York, and co-authored by Republican Indiana Sen. Todd Young, was passed by the U.S. Senate in June 2021 with partisan support split 68-32, but fell through in the House.
The two Republican senators from Indiana split on the vote, with Young voting yes and Sen. Mike Braun voting no.
The bill seeks to “establish a new technology and innovation directorate within the National Science Foundation, establish a regional technology hub program, require a strategy and report on economic security, science, research, innovation, manufacturing and job creation, to establish a critical supply chain resilience agenda” and for other purposes.
In February, the House passed a bill on a similar subject, the America COMPETES Act of 2022, although the measure was passed along party lines – only one Republican voted for – with the seven Republicans in the ‘Indiana, including Northeast Indiana Rep. Jim Banks, voting. against, and both Democratic state representatives voted in favour.
Biden called on lawmakers to come together on the two different measures and resolve the differences to get something signed into law.
Young has been working to take the issue to a conference committee of House and Senate lawmakers to try to find a compromise on the bill in hopes of finding acceptable language for Republicans and Democrats in both bedrooms.
“We’re seeing the revitalization of American manufacturing, especially in the industrial Midwest,” Biden said. “Our economy has created 432,000 new manufacturing jobs in America since we took office and today companies are choosing to build new factories here, here in the United States, when just a few years ago they would have built them abroad.”
One industry that America has lost over time is the production of semiconductors, electronic components that today are found in a surprisingly large amount of products, from cell phones to automobiles to all manner of electronic devices. devices, large and small.
The global disruption in semiconductor production is causing manufacturing delays across many industries. Shortages affecting the auto industry have been particularly pronounced, with the president noting that a third of inflation figures in the United States are due to increases in auto prices affected by the inability to produce new vehicles .
“There is perhaps no more important output than reclaiming America’s leadership and owning our future than semiconductors,” Biden said. “We barely produce 10% of these computer chips although we are a leader in chip design and research, this puts us at the mercy of shortages and supply chain bottlenecks, but we have an opportunity, we have an opportunity to take back the leadership position,” Biden said.
Holcomb had a chance to speak first after the president’s opening remarks, explaining how the Midwest Rust Belt has since been revived to become a shiny new belt loop, with states like Indiana being a major manufacturing hub. American.
“We’re very manufacturing intensive, #1 per capita for a state like Indiana. Five automotive OEMs, medical devices, the list goes on and on,” said Holcomb. “It has been said that speed kills and in this sense, slow speed kills. We have to do this, we have to get on your desk, we have to get it signed so that we can not only catch up with the competition, but lead. We know a little something about that in Indiana. We have the Indy 500. We like to go fast.
Biden interrupted to insert a note that oil and gas prices fell that day after peaking the day before – while adding that he would like the opportunity to drive at the Indianapolis Motor Speedway — before Holcomb continued to discuss a partnership across the state and programs. Indiana offers to support the industrial complex, including top engineering schools at Purdue University and Rose Hulman University, a network of community colleges for job training, and research facilities like Naval Surface Warfare Center at Crane.
Other panelists and the chair chatted for about half an hour in total before the event ended.