U.S. semiconductor manufacturing gets $52 billion boost
Good morning! Happy August 1st! A new month and a fresh start.
The Senate concluded a 64 to 33 vote after a year of debate over legislation meant to spur U.S. semiconductor manufacturing. A minimum of 60 votes were required to pass the bill which has been stalled for the better part of a year. With the passage, a whopping $52 billion in funding will be provided to chipmakers on American soil.
Check out today’s featured article from TT News to read about the grants and incentives passed by the Senate to enhance the domestic output of semiconductors. ☕️
Bugs Bunny Money GIF By Looney Tunes via GIPHY
Featured Article:
Chipmakers Get $52 Billion in Senate Bill to Boost Domestic Output - TT News
“The Senate on July 27 passed legislation that includes $52 billion in grants and incentives for U.S. semiconductor manufacturing, an industry that has steadily lost ground to foreign competitors in recent years.”
Water Cooler Topics
🚂 If engineers and train crews strike against the U.S. railroads, truckers have a good reason to be concerned. While industry experts say a full-scale strike is unlikely, in the event a strike would occur, intermodal containers would immediately be pulled by trucks instead. Avery Vise, vice president of trucking research at FTR Transportation Intelligence is warning the trucking industry of an enormous demand influx if union negotiations continue to escalate.
🚛 Professional truck drivers have a lot of good advice to offer the new generation. Veteran drivers often cite safe driving without an incident or accident as some of the great accomplishments of their career. Friendship and mentorship can be one of the greatest benefits offered to a new driver in a fleet, and the next generation of drivers should absorb lessons learned from those who came before them.
💸 Fears of a recession continue to grow as the US economy shrinks for the 2nd quarter of the year, contracting at a 0.9% annual pace. The GDP report for the last quarter revealed that Americans bought fewer goods and spending slowed after its record-pace last year. The Federal Reserve’s repeated rate hikes slowed home construction, government spending calmed, and business investment dropped off.
The drone industry and the FAA are in the sights of Congress
The National Airspace System may have drones joining its ranks as Congress begins a long-term effort to reauthorize the Federal Aviation Administration. FAA officials pledged overwhelming support for emerging drone technologies earlier this year at the 2022 FAA Drone Symposium in Orlando, Florida.
Congress is likely to be paying close attention to the ongoing collaboration between the FAA and the drone industry and monitoring possible regulatory changes.
Southern California’s Inland Empire saw a 9.4% annual inflation rate in May 2022
According to Labor Department's Consumer Price Index, the average inflation rate across all American urban areas was 8.6% for May. Southern California’s Inland Empire and Riverside County saw the inflation rate jump by 9.4%.
Huge population growth during the pandemic seems to be the catalyst for higher inflation in the region.
Quote of the Day:
“The road to success and the road to failure are almost exactly the same.”
Colin R. Davis, English conductor for the London Symphony Orchestra
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