![]() “I think we have the authority,” Biden told reporters at a press conference in Hiroshima, Japan. The argument for such a unilateral move is based on a phrase in the amendment that the public debt “shall not be questioned.” “It refers to the Civil War that we had just fought and paying those war debts off.”īiden said earlier Sunday that he was looking at “whether or not we have the authority” to use the 14th Amendment, after debt ceiling negotiations with Republicans broke down the day before. "I have absolute confidence that if the money is going to be based on merit that Texas is going to get a very significant share of it because we’re driving the growth nationwide," said Cruz.“That’s a provision that was put in place to say that we’re going to pay our Civil War debts,” he added. The Texas Tribune reports out of the $200 billion investments announced by the new law, Texas is receiving around $61 billion. Texas Instruments is building a $30 billion plant in Sherman, Texas is starting to become a hub of chip manufacturing according to CNBC. Samsung announced a $17 billion semiconductor plant in Central Texas from CHIPS Act funding. The final version of the bill still needs to be approved by both chambers and signed by the President.Īs a ranking member of the Senate Commerce Committee, Cruz has a key role in overseeing funds distributed across the country, including those from the CHIPS Act. ![]() It significantly lengthens the amount of time to build a new facility. Part of the National Environmental Policy Act makes project managers study other more environmentally friendly options along with a public comment period. He attached a measure to the National Defense Authorization Act (NDAA) by removing some environmental reviews in the construction process. Mark Kelly (D-AZ) to speed up the construction of new facilities. If the project is successful, the National Science Foundation could pump in up to $160 million over the next 10 years.Ĭruz also teamed up with U.S. That facility just received a $1 million grant from the National Science Foundation to become an "innovation engine." Recent graduates and staff from a collection of local universities to work on cyber security, automation, and electrification. Tuesday, Cruz toured the Dallas County Inland Point. A FAB is a semiconductor fabrication plant. Much of that bill was rolled into the CHIPS Act with billions in funding. The junior senator was a co-sponsor of the FABS Act, which offered a 25 percent tax credit for investments to build a semiconductor manufacturing, processing, or research facility. "I think bad things happen when the Federal government is giving billions of dollars to private companies. Cruz told NBC 5 he supported the tax credit part of the bill but did not vote for the whole package because of the spending. Most Republican House members voted against the bill. Cruz's critics claim his vote against the bill was merely political by trying to prevent a win for the Biden Administration. It also provides more than $200 billion for technology research and development and $24 billion in tax breaks for private investments. The law allocates $52 billion in federal tax dollars to private companies to build semiconductor manufacturing facilities. In the summer of 2022, Congress passed the CHIPS and Science Act. "Once it passes, once it's law, I am enthusiastic that if we're going to spend money, that money comes to Texas." Ted Cruz (R-TX) voted against the bill but tells NBC 5 he supports money coming to his state and will use his role on the powerful commerce committee to make sure Texas gets its fair share. ![]() The CHIPS and Science Act split the Texas delegation in Washington D.C. Congress and private investors pumped in billions of dollars to build and maintain a semiconductor industry in the state of Texas last year.
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