Biden’s $2 trillion budget includes $50 billion for the NSF Technology Directorate, Semiconductor Manufacturing, and R&D. (Emily Birnbaum from Protocol):
President Joe Biden proposed a $2 trillion infrastructure package on Thursday, including $50 billion to establish a technology directorate at the National Science Foundation (NSF) and another $50 billion to boost semiconductor production and research and development.
Protocol’s Emily Birnbaum reported on the development.
The Allocation Specifics
The planned $2 billion investment package is aimed at repairing deteriorating roads, bridges, and other public works projects. It also funds the establishment of a “technology directorate” within the National Science Foundation (NSF).
This new directorate will focus on AI research, 5G networks, quantum computing, and other upcoming technologies. This investment would “help safeguard America’s future competitiveness in a rapidly changing global economy,” according to White House Press Secretary Jen Psaki.
In addition to establishing the NSF’s technology division, the plan includes an additional $50 billion for semiconductor production and research and development.
This commitment is considered as critical to guaranteeing America’s competitiveness in an increasingly digitalized world. The funds will be utilised to establish new chip manufacturing units in many locations around the country, as well as to support research activities in this sector.
The Advantages of Technology Investing
The Biden administration thinks that investing in technology is critical to long-term economic success. It will assist to create jobs in critical industries like as artificial intelligence and quantum computing, while also helping corporations to produce more advanced goods.
Furthermore, these investments may strengthen America’s security by providing access to cutting-edge technology like as 5G networks, which can assist guard against possible cyber threats.