Biden boosts semiconductor bill as White House grapples with skyrocketing prices

President Joe Biden hailed a bipartisan tech bill during a Wednesday event at the White House with state lawmakers and critical industry executives.

The president has previously endorsed the Bipartisan Innovation Act, which would direct more than $50 billion in new funding toward the domestic research and development of semiconductors and other critical technologies. Though the legislation has support from members of both parties, it has stalled since being introduced by House Speaker Nancy Pelosi.