The $280 billion bill was signed into law by President Biden on Tuesday, part of a renewed effort by the White House to impress upon its base the benefits of recent legislation.
Mr. Biden said the bill was proof that bipartisanship in Washington could produce legislation that would create thousands of new American jobs.
Mr. Biden said that fundamental change is happening. Change can strengthen our sense of control and security, or it can weaken us.
There was a rare consensus among both Republicans and Democrats for an industrial policy that could help the US compete with China. There were 17 Republicans who voted for the bill in the Senate.
While Republicans have long resisted intervening in global markets and Democrats have criticized pouring taxpayer funds into private companies, global supply chain shortages caused by the swine flu exposed just how much the United States had come to rely on foreign countries for advanced chip technology.
Mr. Biden mentioned China several times during his remarks at the bill-signing ceremony.
The president said that the Chinese Communist Party had lobbyists against the bill.
The bill provides subsidies and tax credits for companies that make chips in the US. $200 billion for new manufacturing initiatives and scientific research is included.
The legislation allows for the creation of 20 regional technology hubs that will link together research universities with private industry in an effort to advance technology innovation in areas lacking such resources. Funding is provided to the Energy Department and the National Science Foundation for basic research into semiconductors.
"We will bring these jobs back to our shores and end our dependence on foreign chips," said Schumer, who pumped his fists as he stepped toward the lectern.
At one point, Mr. Schumer mentioned that the bill had once been called the "Endless Frontier Act", which was one of a number of names for the bill.
Mr. Schumer loves that name.
He said that Democrats would be willing to work with Republicans. We celebrate such an achievement at today's signing.
Democrats are hoping that the passage of the industrial policy legislation and a few other notable bills, along with falling gas prices, can help drive a turn around for the party ahead of the congressional elections. With soaring inflation and painful prices at the pump, Democrats are facing a bleak outlook.
The bill that will be signed by Mr. Biden on Wednesday will expand medical care for veterans exposed to burn pits on military bases. The climate, health and tax bill, which cleared the Senate over the weekend, is expected to be passed by the House on Friday.
The effort to promote the recent victories came after Mr. Biden was forced to take a break during a fight. He traveled on Monday to meet with survivors of the flooding in Kentucky, his first work trip since he tested positive for the virus.
Mr. Biden coughed during his speech in the Rose Garden. The White House said he had tested negative for the virus for the fourth day in a row on Tuesday.
There is no guarantee that the efforts of Mr. Biden and his aides will change the political dynamics heading into the November elections.
Gina Raimondo said at the ceremony that it was a long path to get here. The president told them to keep fighting. Don't stop fighting. Continue.
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