Key Takeaways:
– President Biden rushes to spend billions of approved funds ahead of handing over power to President-elect Trump.
– The focus is on spending $39 billion on semiconductor manufacturing plants across the US, contributing to over 115,000 jobs.
– Biden also pushes forward legislative achievements like the largest climate bill, the Inflation Reduction Act, and the rapid spending of $7 billion in aid to Ukraine.
– The administration is also encouraging a swift confirmation of judicial nominees before the Democrats’ majority tenure wraps up.
President Biden is intent on utilizing authorized money on large projects before President-elect Trump takes over on January 20th. His team is focusing on ensuring that his successor cannot conveniently reverse his major legislative accomplishments.
Scheduling High-Speed Spending
In an unparalleled endeavor, Biden and his Cabinet are working against time. Their task is to spend billions of dollars on initiatives that Congress has previously authorized. This activity is to counter any attempts by the incoming Trump administration from reallocating these funds.
At the heart of these endeavors is a $39 billion allocation. These funds are earmarked for semiconductor manufacturing facilities across the US, a move as a part of the CHIPS and Science Act. This action propels a job increase in the manufacturing sector, bringing an estimated 115,000 jobs across many states.
Commerce Secretary’s Role
This mammoth task has been entrusted to Secretary of Commerce Gina Raimondo and her team. They have been encouraged to go the extra mile by working extended hours and even during weekends. This strategy is to ensure funds from the CHIPS and Science Act are outlayed before the transition of power happens.
Accelerating deals with tech executives is also part of the plan. The effort includes direct calls to expedite several deals that are currently underway.
Upcoming CHIPS Success
There’s already some success story to share from the CHIPS team. The team has revealed preliminary agreements with around two dozen companies for CHIPS awards. And the coming two months will witness a flurry of announcements for all $39 billion of the funding.
Biden’s Steady Climate Efforts
One prominent part of Biden’s legacy is his most substantial legislative accomplishment, the Inflation Reduction Act (IRA). It’s a heartening move towards battling climate change and has been praised as the biggest ever spend on climate issues. Integral to the law is an allocation of $369 billion for clean energy subsidies, a cause that President-elect Trump had held an oppositional stance upon during his election campaign.
Aiding Ukraine, Securing Territory
President Biden has also prioritized sending an unsettled sum of $7 billion in military assistance to Ukraine. The move is to secure Ukrainian soil from possible Russian invasion, speculated to follow after Trump’s inauguration.
Biden believes that equipped with more weaponry, the Ukrainian military could negotiate more effectively with Russia under the new American administration.
Push for Say on Judiciary
An effort is also underway to confirm political nominations, specifically regarding judicial appointments. The urgency was articulated in Senate Majority Leader Chuck Schumer’s moves to speed up voting on several nominees. The aim is to confirm these judges to lifetime positions during the final stretch of the Democratic majority’s term.
The Biden administration’s cooperation with Senate Democrats reinforces the President’s commitment to leave a strong imprint on the judiciary.
President Joe Biden has carefully threaded his final days in office. His focus is not just on strong legislation and smart spending but also on leaving a mark that would be hard to erase by incoming administrations. His efforts are indicative of a leader who is as keen on preserving his current actions for posterity, if not more, as he was about executing them.