$100 billion being distributed by government to businesses

R.A. Heim

Yes, you read that right. That's $100 billion with a "b." The Commerce department, under the guidance of the U.S. Secretary of Commerce Gina M. Raimondo, will be distributing nearly $100 billion dollars to some businesses in the United States. This amount is roughly 10 times the department’s annual budget. (source) This money will be used to strengthen the U.S. chip industry and to also help expand high-speed internet access throughout the country.

How Raimondo handles these task will have big implications for the U.S. economy going forward. Raimondo has spearheaded the CHIPS for America plan. She says, "This plan will ensure continued US leadership in the industries that underpin our national security and economic competitiveness."

A couple months ago, near Columbus, Intel broke ground on a $20 billion dollar facility that will be a semiconductor manufacturing campus. (source) This example is the kind of work that the Commerce department wants to accomplish. The challenge often lies in that Raimondo must please both Democrats and Republicans with how the funds are distributed.

“Secretary Raimondo’s job is to help grow an economy that works for everyone, not to be the chief lobbyist for the Chamber of Commerce,” Sen. Elizabeth Warren of Massachusetts said in a statement to The New York Times.

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How do you think these billions of dollars should be distributed? Is this the right move?

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