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Biden to meet with lawmakers to discuss $2T spending plan

Video Credit: Bleacher Report AOL - Duration: 03:09s - Published
Biden to meet with lawmakers to discuss $2T spending plan

Biden to meet with lawmakers to discuss $2T spending plan

As a new debate begins over President Joe Biden’s ambitious infrastructure proposal, the Brent Spence Bridge in Ohio offers a lesson for the challenges facing the administration.

CNN’s Jeff Zeleny reports.


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Joe Biden Joe Biden President of the United States since 2021

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Norfolk Southern Offers , Settlement to Resolve Lawsuits , Related to 2023 Derailment. Train operator Norfolk Southern has agreed to pay $600 million as part of a settlement to a class-action lawsuit as part of a February 2023 derailment in East Palestine, Ohio. Train operator Norfolk Southern has agreed to pay $600 million as part of a settlement to a class-action lawsuit as part of a February 2023 derailment in East Palestine, Ohio. Associated Press reports that the agreement, which would resolve all class action lawsuits within a 20-mile radius from the derailment, is still pending court approval. Associated Press reports that the agreement, which would resolve all class action lawsuits within a 20-mile radius from the derailment, is still pending court approval. According to the agreement, the settlement would also resolve personal injury claims within a 10-mile radius of the accident site for residents choosing to participate. According to the agreement, the settlement would also resolve personal injury claims within a 10-mile radius of the accident site for residents choosing to participate. On April 9, Norfolk Southern said that the settlement does not constitute an admission of liability or fault for the fiery crash. The East Palestine derailment has already cost Norfolk Southern over $1.1 billion, including $104 million in aid for residents and the town. . The East Palestine derailment has already cost Norfolk Southern over $1.1 billion, including $104 million in aid for residents and the town. . AP reports that while the company has promised to create a fund to help pay for the community's long-term health needs, that fund has yet to be created. . AP reports that while the company has promised to create a fund to help pay for the community's long-term health needs, that fund has yet to be created. . Norfolk Southern CEO Alan Shaw said that the railroad operator is, “becoming a more productive and efficient railroad. . There is still more work to be done to achieve industry-competitive margins, Alan Shaw, Norfolk Southern CEO, via Associated Press. There is still more work to be done to achieve industry-competitive margins, Alan Shaw, Norfolk Southern CEO, via Associated Press. The operator reported preliminary Q1 earnings of 23 cents per share, reflecting the impact of the settlement and cleanup costs for the derailment.

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Biden Administration to Invest $8.5 Billion , in Intel’s Computer Chip Plants. Biden Administration to Invest $8.5 Billion , in Intel’s Computer Chip Plants. In addition to $8.5 billion in direct funding, $11 billion will be provided in loans. The money will come from the CHIPS and Science Act. The funds will go toward "computer chip plants in Arizona, Ohio, New Mexico and Oregon," CBS News reports. . According to Intel, the new funding and other investments will create a total of 30,000 jobs in manufacturing and construction. According to Intel, the new funding and other investments will create a total of 30,000 jobs in manufacturing and construction. The deal will help the U.S. to produce 20% of the most advanced computer chips in the world by 2030, according to Commerce Secretary Gina Raimondo. Failure is not an option — leading-edge chips are the core of our innovation system, especially when it comes to advances in artificial intelligence and our military systems, Commerce Secretary Gina Raimondo, on a call with reporters. We can't just design chips. We have to make them in America, Commerce Secretary Gina Raimondo, on a call with reporters. Biden's funding announcement comes amid a heated presidential campaign. Administration officials want to get chip technology funding "out the door as quickly as possible so that the Biden campaign can point to concrete progress on one of the White House's signature programs," analysts say. Intel CEO Pat Gelsinger called the CHIPS Act "the most critical industrial policy legislation since World War II.". We think of this as a defining moment for the United States, the semiconductor industry and for Intel, Intel CEO Pat Gelsinger, via statement

Credit: Wibbitz Top Stories    Duration: 01:31Published

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