Biden meets CEOs, labor; backs bill to boost U.S. chips production

WASHINGTON: President Joe Biden met virtually on Monday with the chief executives of Lockheed Martin Corp, Medtronic PLC and Cummins Inc along with labor leaders as part of the administration’s push for legislation to boost the U.S. semiconductor industry.

“Congress must pass this bill as soon as possible,” Biden said. “There is an economic imperative…. This bill is going to supercharge efforts to make semiconductors.”

The Senate’s Democratic majority leader, Chuck Schumer, said he was delaying a procedural vote because of severe weather issues until Tuesday at 11 a.m. ET.