President Biden warned Tuesday that private sector investments are at risk under Republican proposals, especially in states such as North Carolina, Arizona, New York, Georgia and Ohio.
Biden is traveling to Durham to visit semiconductor maker Wolfspeed, which recently announced a $5 billion investment to expand its operations in North Carolina.
President says North Carolina will be one of the states “most likely to lose private sector investment under MAGA Republicans’ reckless proposal” if “MAGA Republicans” repeal inflation cuts law It will, said a White House official, in a statement. The Tarheels state has seen $16 billion in private investment since Biden took office, according to the White House.
In the same time frame, Arizona had $58 billion in private sector investment, New York $48 billion, Georgia $31 billion, and Ohio $30 billion.
On Tuesday, the President will announce more than $435 billion in private sector manufacturing commitments across the United States. This includes investments in clean energy, electric vehicles and batteries surpassing his $200 billion, semiconductors surpassing his $200 billion, and investments in biomanufacturing.
Biden has warned that the Democratic Party’s comprehensive inflation-cutting bill, a major political victory for him ahead of the 2022 midterm elections, is at risk. Some Republicans, including Rep. Brady (Texas), have suggested that their party would work to repeal the Inflation Reduction Act if they won a majority.
Biden’s visit to Durham is part of a three-week trip to pitch his economic policies. The tour he plans to overlap with the two-week congressional recess, and the White House said lawmakers are scheduled to visit government officials in several other states, including Arkansas, Colorado, Georgia, Ohio, Oregon, Tennessee and Wisconsin. I hope you will join us.
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