WealthyTrails
  • Home
  • IPO
    • Upcoming IPO 2023
    • IPO 2022
  • Trading Holidays 2023
  • Share Market Stories
No Result
View All Result
  • Home
  • IPO
    • Upcoming IPO 2023
    • IPO 2022
  • Trading Holidays 2023
  • Share Market Stories
No Result
View All Result
WealthyTrails
No Result
View All Result
Home News Global Stock Market and Business News

As Biden touts Ohio Intel plant, Rep. Tim Ryan questions his 2024 plans By Reuters

7 months ago
in Global Stock Market and Business News
Reading Time: 4 mins read
A A
0
As Biden touts Ohio Intel plant, Rep. Tim Ryan questions his 2024 plans By Reuters
103
VIEWS
Share on FacebookShare on TwitterShare on linkedinShare on Whatsapp


2/2
As Biden touts Ohio Intel plant, Rep. Tim Ryan questions his 2024 plans
© Reuters. U.S. President Joe Biden gestures as he delivers remarks at a reception for the Democratic National Committee in National Harbor, Maryland, U.S., September 8, 2022. REUTERS/Evelyn Hockstein

2/2

By Trevor Hunnicutt and Steve Holland

NEW ALBANY, Ohio (Reuters) -President Joe Biden made an election-year visit to an overwhelmingly Republican part of Ohio on Friday for the groundbreaking of a semiconductor plant that he promoted as evidence that his economic policies are working.

But his trip was punctuated by comments from a fellow Democrat, Ohio Representative Tim Ryan, who is now running for the U.S. Senate. On Thursday, Ryan publicly questioned whether the party needed new leadership after he was asked if the 79-year-old president should run for re-election in 2024.

Biden traveled to Licking County near Columbus to speak at the site of Intel Corp (NASDAQ:)’s new $20 billion semiconductor manufacturing facility and hailed it as a sign of things to come.

“The future of the chip industry is going to be made in America,” he said. “The industrial Midwest is back.”

The trip is part of a White House pre-midterms push to tout new funding for manufacturing and infrastructure Biden’s Democratic Party pushed through Congress, while decrying opposition Republicans backed by former President Donald Trump as dangerous extremists.

Previous trips to Maryland, Pennsylvania and Wisconsin have landed the president in areas where Democrats already have strong support, but Licking County voted Republican 63% to 35% in the 2020 presidential election.

Democrats have lost Ohio in the past two presidential contests, but Republican Senator Rob Portman’s retirement may give Democrats a chance to pick up a Senate seat.

See also  Antipodean currencies advance ahead of rate decisions, dollar edges lower By Reuters

Some recent forecasts show Democrats favored to maintain control of the Senate, after a series of wins in Congress. But not all candidates welcome Biden’s campaigning support.

Ryan, who currently represents Ohio’s 13th congressional district, is running against Republican J.D. Vance, a venture capitalist and author of the book “Hillbilly Elegy,” who has Trump’s backing.

Asked Thursday if Biden should seek a second term, Ryan told Youngstown, Ohio, network WFMJ, “My hunch is that we need new leadership across the board – Democrats, Republicans, I think it’s time for a generational move.”

Ryan, who has broken with the president on some issues, has not asked Biden to campaign with him in the state, but was present at the Intel groundbreaking for the president’s remarks.

Pressed later by reporters if Biden should run again, Ryan said that was up to the president. “The president said from the very beginning he was going to be a bridge to the next generation, which is basically what I was saying,” he said.

Vance accused Ryan of hypocrisy. “It takes a real two-faced fraud for someone to tell Ohioans he doesn’t support Biden running for reelection, the literal day before he appears at an event with him,” he said.

Trump’s political organization announced on Monday that Trump will appear at a rally for Vance in Youngstown, Ohio, on Sept. 17.

CHIPS ACT PROJECTS

Intel backed the Ohio project in anticipation of the passage of the Chips and Science Act, a funding law that Biden signed last month after some Republicans joined Democrats to support it, the White House says.

See also  European Gas Prices Surge on Nord Stream Shutdown

The Chips act is aimed at jumpstarting the domestic production of semiconductors in response to supply-chain disruptions that have slowed the production of automobiles.

A string of other companies have announced new semiconductor plants resulting from passage of the Chips act, which authorized about $52 billion in government subsidies for U.S. semiconductor production and research, and an investment tax credit for chip plants estimated to be worth $24 billion.

“Industry leaders are choosing us – the United States – because they see America’s back and America’s leading the way,” Biden said.

Intel timed an announcement that it has distributed $17.7 million to Ohio colleges and universities to develop semiconductor-focused education and workforce programs, part of a $50 million education and research investment in the state, to Biden’s visit.

The Intel facility will contain at least two fabricating plants that the White House said will be built by union labor, creating more than 7,000 construction jobs and 3,000 full-time jobs producing cutting edge chips.



Source link

Tags: Economy
Previous Post

Estimating S&P 500’s 2-Year Annualized Return 12 Months Into The Future

Next Post

Stock Market Today: Dow Ends Losing Streak as Tech Sidesteps Larger Rate-Hike Bets

Related Posts

Your Wallet Is Being Drained by Subscriptions. Wall Street Thanks You.
Global Stock Market and Business News

Your Wallet Is Being Drained by Subscriptions. Wall Street Thanks You.

December 12, 2022
WhatsApp back online after global outage hits users By Reuters
Global Stock Market and Business News

FX swap debt a $80 trillion ‘blind spot’ BIS says By Reuters

December 6, 2022
Poor Countries Feel Sting of Local-Currency Debt
Global Stock Market and Business News

Poor Countries Feel Sting of Local-Currency Debt

December 6, 2022
Oil prices rise after OPEC+ keeps output steady, Russian price cap imposed By Reuters
Global Stock Market and Business News

Oil prices rise after OPEC+ keeps output steady, Russian price cap imposed By Reuters

December 5, 2022
Next Post

Stock Market Today: Dow Ends Losing Streak as Tech Sidesteps Larger Rate-Hike Bets

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Institute of Actuaries retires 4 Managing Council members, creates ‘constitutional crisis’

Institute of Actuaries retires 4 Managing Council members, creates ‘constitutional crisis’

September 11, 2022
COVID-19 and 17 May: Tax Day Considerations for Clients

COVID-19 and 17 May: Tax Day Considerations for Clients

September 17, 2022
OYO to bring onboard 600 new hotels & homes in South India by year-end

OYO to bring onboard 600 new hotels & homes in South India by year-end

September 5, 2022
Europe’s Energy Crunch Could Spark Flashbacks to the Eurozone Crisis

Europe’s Energy Crunch Could Spark Flashbacks to the Eurozone Crisis

September 9, 2022
Peloton Becomes Barry McCarthy’s Ride or Die

Peloton Becomes Barry McCarthy’s Ride or Die

3
Dollar Bulls to Remain in Control as Fed to Double Down on Hawkish Stance By Investing.com

Dollar Bulls to Remain in Control as Fed to Double Down on Hawkish Stance By Investing.com

2
Palestinians in Gaza protest towards wave of Israeli violence | Gaza News

Palestinians in Gaza protest towards wave of Israeli violence | Gaza News

2
Goldman Sachs Remains Bullish on Tesla After Meeting By Investing.com

Goldman Sachs Remains Bullish on Tesla After Meeting By Investing.com

1
Hindenburg Research: An Investment Research Firm Specializing in Short-Selling

Hindenburg Research: An Investment Research Firm Specializing in Short-Selling

February 1, 2023
Understanding Grey Market Premium (GMP) in IPOs – Busting Myths & Confusions

Understanding Grey Market Premium (GMP) in IPOs – Busting Myths & Confusions

January 31, 2023
Invest in these stocks to double down your returns in 2023

Companies Offering Over 300% Dividend in 2023 | Motilal Oswal, TVS Motors, Siemens, Accelya Solutions, Saregama

January 31, 2023
Infosys Buyback 2022 – Announcement, Date, Price, Details & More

Infosys Buyback 2022 – Announcement, Date, Price, Details & More

January 29, 2023

Web Stories

Top 5 Companies Devastated by Hindenburg Research | Nikola, SC Worx, Genius Brand, Ideanomic, Mullen Auto
Top 5 Companies Devastated by Hindenburg Research | Nikola, SC Worx, Genius Brand, Ideanomic, Mullen Auto
Adani Group Exposed: Report Reveals Decades-Long Stock Manipulation & Accounting Fraud
Adani Group Exposed: Report Reveals Decades-Long Stock Manipulation & Accounting Fraud
Investing in Bonds: Pros and Cons | Wealthy Trails
Investing in Bonds: Pros and Cons | Wealthy Trails
How IPOs in India Pumped & Dumped?
How IPOs in India Pumped & Dumped?
simple way to invest in 50 stocks at once
simple way to invest in 50 stocks at once
View all stories
WealthyTrails

© 2022 WealthyTrails.com

Navigate Site

  • About
  • Disclaimer
  • Privacy & Policy
  • Contact
  • Story Archives
  • Tags

Follow Us

No Result
View All Result
  • Home
  • IPO
    • Upcoming IPO 2023
    • IPO 2022
  • Trading Holidays 2023
  • Share Market Stories

© 2022 WealthyTrails.com

Top 5 Companies Devastated by Hindenburg Research | Nikola, SC Worx, Genius Brand, Ideanomic, Mullen Auto Adani Group Exposed: Report Reveals Decades-Long Stock Manipulation & Accounting Fraud Investing in Bonds: Pros and Cons | Wealthy Trails How IPOs in India Pumped & Dumped? simple way to invest in 50 stocks at once