Today’s countdown meme is one of my favorites…
President Biden’s public schedule for Tuesday, December 6th 2022:
| 8:15 AM | Out-of-Town Pool Call Time Joint Base Andrews Overhang Out-of-Town Pool |
| 8:45 AM | The President receives the Presidential Daily Briefing The White House Closed Press |
| 8:50 AM | In-Town Pool Call Time The White House In-Town Pool |
| 9:25 AM | The President departs the White House en route Joint Base Andrews South Lawn Open Press |
| 9:45 AM | The President departs Joint Base Andrews en route Phoenix, Arizona Joint Base Andrews Out-of-Town Pool |
| 10:30 AM | Press Secretary Karine Jean-Pierre will gaggle aboard Air Force One en route Phoenix, Arizona Joint Base Andrews Out-of-Town Pool |
| 2:40 PM | The President arrives in Maricopa County, Arizona (12:40 PM Local) Luke Air Force Base, Arizona Open Press |
| 3:30 PM | The President tours TSMC (1:30 PM Local) TSMC, Phoenix Out-of-Town Pool |
| 4:00 PM | The President discusses how his economic plan is leading to a manufacturing boom, rebuilding supply chains, and creating good-paying jobs in Arizona and across the country (2:00 PM Local) TSMC, PhoenixOpen Press |
| 6:05 PM | The President departs en route Luke Air Force Base, Maricopa County, Arizona (4:05 PM Local) TSMC, PhoenixOut-of-Town Pool |
| 6:45 PM | The President departs Luke Air Force Base, Maricopa County, Arizona en route Joint Base Andrews (4:45 PM Local) Luke Air Force Base, ArizonaOut-of-Town Pool |
| 10:20 PM | The President arrives at Joint Base Andrews Joint Base AndrewsOut-of-Town Pool |
| 10:30 PM | The President departs Joint Base Andrews en route the White House Joint Base AndrewsOut-of-Town Pool |
| 10:40 PM | The President arrives at the White House South Lawn Press Secretary Karine Jean-Pierre will gaggle aboard Air Force One en route Phoenix, Arizona |
The audio only press gaggle is schedule for 12:30 p.m. D.C., time.
President Biden has tweeted…
He’s got 2 tweets so far; which I think reflect on his remarks for this afternoon.
Here is the skinny; today TSMC a Taiwanese chipmaker said:
TSMC (TWSE: 2330, NYSE: TSM) today announced that in addition to TSMC Arizona’s first fab, which is scheduled to begin production of N4 process technology in 2024, TSMC has also started the construction of a second fab which is scheduled to begin production of 3nm process technology in 2026. The overall investment for these two fabs will be approximately US$40 billion, representing the largest foreign direct investment in Arizona history and one of the largest foreign direct investments in the history of the United States.
In addition to the over 10,000 construction workers who helped with construction of the site, TSMC Arizona’s two fabs are expected to create an additional 10,000 high-paying high-tech jobs, including 4,500 direct TSMC jobs. When complete, TSMC Arizona’s two fabs will manufacture over 600,000 wafers per year, with estimated end-product value of more than US$40 billion.
In line with TSMC’s commitment to green manufacturing, it was also revealed that TSMC Arizona is in the planning stages for an on-site Industrial Water Reclamation Plant that when finished, will allow the TSMC Arizona site to achieve near zero liquid discharge.
“When complete, TSMC Arizona aims be the greenest semiconductor manufacturing facility in the United States producing the most advanced semiconductor process technology in the country, enabling next generation high-performance and low-power computing products for years to come,” said TSMC Chairman Dr. Mark Liu. “We are thankful for the continual collaboration that has brought us here and are pleased to work with our partners in the United States to serve as a base for semiconductor innovation.”
PR.TSMC.com. 12/06/2022.
In yesterday’s press briefing White House Press Secretary Karine Jean-Perry said when replying to a White House correspondent that a background press call was scheduled and it would preview the Arizona Trip.
Q: Thanks, Karine. On the trip tomorrow, President Biden has visited a lot of semiconductor plants. What — can you just talk about what makes this one special? Is it, you know, based on that it’s run by Taiwan — a Taiwan company? Is it advanced chips? What’s kind of differentiates this trip?
MS. JEAN-PIERRE: I’m sorry — a backgrounder. Backgrounder. Yes. It’s a backgrounder. And it’ll — as you know, it’s usually lifted the next morning. So, yes, it is a background call with Brian Deese that’ll happen at 6:30. So, again, I’ll encourage all of you to join.
But, look, you know, as you know, he’s going to be going to Phoenix, Arizona, to be discussing American manufacturing. Under this President, we have seen manu — American manufacturing coming back to the U.S., and a lot of that is because of the President’s economic policies.
We’ve seen more than 700,000 manufacturing jobs created under this President. And he is going to continue to talk about that, talk about the CHIPS and Science Act, and that historic piece of legislation that was, as you all know, a bipartisan piece of legislation that is going to continue making sure that we have manufacturing jobs right here in the U.S.
So, again, you’ll get more details on that. Don’t want to get ahead of that conversation that will be had by Brian Deese at 7:30. It’s a background call. I, again, encourage all of you to join.
White House.gov. 12/05/2022.
The background press call has not been posted by the White House, yet.
Reuters reported this morning that President Biden will be joined by: Apple Inc (AAPL.O) Chief Executive Tim Cook, TSMC founder Morris Chang and the head of chipmaker Micron Technology Inc (MU.O), Sanjay Mehrotra, and NVIDIA Corp (NVDA.O) founder and CEO Jensen Huang, among others, the White House said.
President Biden’s remarks are scheduled for 4:00 p.m. D.C., time.
When the post was posted for Monday, President Biden had not tweeted. He ended up with a Monday Tweeting Total of 7 tweets and 0 retweets.
I lol’d.
The next 3 tweets I believe center around the Inflation Reduction Act.
By The Numbers was a fact-sheet posted by the White House on August 15th 2022:
The Inflation Reduction Act will lower costs for families, combat the climate crisis, reduce the deficit, and finally ask the largest corporations to pay their fair share. President Biden and Congressional Democrats have worked together to deliver a historic legislative achievement that defeats special interests, delivers for American families, and grows the economy from the bottom up and middle out.
Here’s how the Inflation Reduction Act impacts Americans by the numbers:
White House.gov. 08/15/2022.
HEALTH CARE
Cutting Prescription Drug Cost
- Today, Americans pay two to three times what citizens of other countries pay for prescription drugs
- 5-7 million Medicare beneficiaries could see their prescription drug costs go down because of the provision allowing Medicare to negotiate prescription drug costs.
- 50 million Americans with Medicare Part D will have the peace of mind knowing their costs at the pharmacy are capped at $2,000 per year, directly benefiting about 1.4 million beneficiaries each year.
- 3.3 million Medicare beneficiaries with diabetes will benefit from a guarantee that their insulin costs are capped at $35 for a month’s supply.
Lowering Health Care Costs
- 13 million Americans will continue to save an average of $800 per year on health insurance premiums
- 3 million more Americans will have health insurance than without the law.
- The uninsured rate is at an all-time low of 8%, which the historic law will build on.
Defeating Special Interests
- $187 million: The amount the Pharmaceutical industry has spent on lobbying in 2022.
- 1,600: number of lobbyists the pharmaceutical companies had in 2021 – three times the number of Members of Congress
- 33 years: the amount of time Congressional Democrats have been trying to lower prescription drug costs by allowing Medicare to negotiate drug prices.
- 19 years: number of years Medicare has been blocked from negotiating prescription drug costs
CLEAN ENERGY
- Families that take advantage of clean energy and electric vehicle tax credits will save more than $1,000 per year.
- $14,000 in direct consumer rebates for families to buy heat pumps or other energy efficient home appliances, saving families at least $350 per year.
- 7.5 million more families will be able install solar on their roofs with a 30% tax credit, saving families $9,000 over the life of the system or at least $300 per year.
- Up to $7,500 in tax credits for new electric vehicles and $4,000 for used electric vehicles, helping families save $950 per year.
- Putting America on track to meet President Biden’s climate goals, which will save every family an average of $500 per year on their energy costs.
Building a Clean Energy Economy
- Power homes, businesses, and communities with much more clean energy by 2030, including:
- 950 million solar panels
- 120,000 wind turbines
- 2,300 grid-scale battery plants
- Advance cost-saving clean energy projects at rural electric cooperatives serving 42 million people.
- Strengthen climate resilience and protect nearly 2 million acres of national forests.
- Creating millions of good-paying jobs making clean energy in America.
Reducing Harmful Pollution
- Reduce greenhouse gas emissions by about 1 gigaton in 2030, or a billion metric tons – 10 times more climate impact than any other single piece of legislation ever enacted.
- Deploy clean energy and reduce particle pollution from fossil fuels to avoid up to 3,900 premature deaths and up to 100,000 asthma attacks annually by 2030.
TAXES
Making the Tax Code Fairer
- $0: how much some of largest, profitable corporations pay in federal income tax.
- 55: the number of America’s largest, wealthiest corporations that got away without paying a cent in federal income taxes in 2020.
- $160 billon: how much the top 1 percent of earners is estimated to evade each year in taxes.
- 15%: the minimum tax on corporate profits the Inflation Reduction Act imposes on the largest, most profitable corporations.
- $124 billion: savings over 10 years the Inflation Reduction Act will generate from collecting taxes already owed by wealthy people and large corporations, according to the Congressional Budget Office.
- And no family making less than $400,000 will see their taxes go up a penny.
Reducing the Deficit
- The Inflation Act will achieve hundreds of billions in deficit reduction.
- The deficit is projected to fall by more than $1.5 trillion this year after falling by more than $350 billion last year.
- 126 leading economists – including 7 Nobel Laureates, 2 former Treasury Secretaries, 2 former Fed Vice Chairs and 2 former CEA Chairs – have said reducing the deficit will help fight inflation and support strong, stable economic growth.
The above tweets were sent 3 hours apart. I have only guesses as to why.
Guess 1: The Twitter Intern forgot they already posted the tweet.
Guess 2: They scheduled the tweet twice.
Guess 3: Shit happens.
Friday was Jobs Report Friday.
Total nonfarm payroll employment increased by 263,000 in November, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing.
Still nothing on the press call previewing the upcoming trip to AZ.
The White House has posted a Proclamation for Pearl Harbor Remembrance Day that I will share in full tomorrow.
This is an Open Thread.
