Biden Administration's Urgent Spending Plans

The Biden administration is rapidly working to allocate funds from the Inflation Reduction Act and the CHIPS Act before a potential transition in leadership. Commerce Secretary Gina Raimondo is tasked with ensuring nearly all of the $50 billion microchip subsidy is committed to various projects aimed at bolstering American manufacturing and jobs. As investments flow into businesses, particularly in conservative states, there is skepticism over whether Republicans can effectively retract these funds once established. The dynamic highlights the political implications and public perception surrounding these funding initiatives, as upcoming achievements may be attributed to a future administration.