The Biden administration on Tuesday said it will require companies winning funds from its $52 billion U.S. semiconductor manufacturing and research program to share excess profits and explain how they plan to provide affordable childcare.
Commerce expects "upside sharing will only be material in instances where the project significantly exceeds its projected cash flows or returns, and will not exceed 75% of the recipient’s direct funding award."
Democratic lawmakers have noted that the largest U.S. semiconductor companies have poured hundreds of billions of dollars into stock buybacks in recent years, with IntelCommerce Secretary Gina Raimondo said companies must submit a plan that includes an outline of workforce needs. Applicants seeking more than $150 million in direct funding must submit "a plan for how they will provide affordable and accessible childcare for their workers.
Applicants should also "create opportunities for minority owned, veteran-owned, and women-owned businesses; demonstrate climate and environmental responsibility; invest in their communities by addressing barriers to economic inclusion; and commit to using iron, steel, and construction materials produced in the United States."
"We're going to be doing our own diligence. We're not writing blank checks to any company that asks," Raimondo said. "We're making companies open their books."
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Biden's student loan forgiveness plan goes before the Supreme Court TuesdayMillions of student loan borrowers could see up to $20,000 of their debt canceled depending on the outcome of Tuesday's US Supreme Court hearing on President Biden's student loan forgiveness program.
Les mer »
US to require companies winning chipmaking subsidies to share excess profitsThe Biden administration on Tuesday said it will require companies winning funds from its $52 billion U.S. semiconductor manufacturing and research program to share excess profits and explain how they plan to provide affordable childcare.
Les mer »
Jill Biden Says She Is ‘All for’ President Biden Running for Another TermThe first lady is suggesting that President Biden is closing in on a 2024 re-election campaign, saying in interviews there are few things that would prevent the 80-year-old president from seeking a second term.
Les mer »
Mayoral Candidates Hone Messages Ahead of Tuesday’s ElectionWhile polling on the Chicago mayoral race has been somewhat inconsistent, what appears clear from multiple polls is that incumbent Mayor Lori Lightfoot and challengers Paul Vallas, Brandon Johnson and U.S. Rep. Jesús “Chuy” García have pulled clear from the pack.
Les mer »
Newark High School cancels Monday, Tuesday classes after small fire in buildingClasses will resume at Newark High School after a small fire in the building's math wing on Saturday. No injuries were reported in the blaze.
Les mer »
CIF NorCal soccer regionals: Tuesday’s opening-round scheduleNumerous Bay Area high school soccer teams open regional action with first-round games Tuesday.
Les mer »