Biden $2T Allocates $50B For NSF Technology Directorate, Semiconductor Manufacturing And R&D (Emily Birnbaum From Protocol)
On Thursday, President Joe Biden announced a $2 trillion infrastructure proposal that would use $50 billion to create a technology directorate at the National Science Foundation (NSF) and another $50 billion to fund research and development in manufacturing and semiconductors. The announcement was made by Protocol’s Emily Birnbaum.
The proposed $2 trillion investment program is dedicated to rebuilding ailing roads, bridges and other public works projects. It also provides funding to establish a “Technology Directorate” at the National Science Foundation (NSF).
This new directorate will focus on research related to artificial intelligence (AI), 5G networks, quantum computing and other emerging technologies.According to White House press secretary Jen Psaki, the investment “will help ensure America’s future competitiveness in a rapidly changing global economy.”
In addition to creating a technology directorate at the NSF, the proposal also provided an additional $50 billion for semiconductor manufacturing and research and development.
This compensation is considered essential to ensure America’s competitiveness in an increasingly digital world. The money will be used to build new chip manufacturing facilities in various states across the country and to support field research initiatives.
Benefits of investing in technology
The Biden administration believes that investing in technology is essential for long-term economic growth.It will help create jobs in key industries such as artificial intelligence and quantum computing, and enable companies to develop more advanced products.
Additionally, these investments can make America more secure by giving it access to advanced technologies like 5G networks that can help protect against potential cyber threats.
Investments in semiconductor manufacturing can also pay off as American companies gain access to the components they need to run IoT devices and data centers.
In addition, this could lead to better prices for consumer electronics such as smartphones and laptops, since in-house production would increase competition between chipmakers.
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Biden’s proposed infrastructure plan calls for spending $100 billion on technologies like artificial intelligence, 5G networks, quantum computing, semiconductor manufacturing and more.. could prove beneficial not only by providing funds for development but also by increasing the number of jobs in these areas.
It can also help protect against cybersecurity threats while lowering the price of consumer electronics. Overall, this investment could be critical to ensure continued economic growth.