Hans Nichols
Axios Phoenix
President Biden will announce $20 billion in grants and loans for Intel to expand its semiconductor production at a stop in Arizona on Wednesday, a move the administration claims will lead to 10,000 new jobs in the swing state.
Why it matters: Biden is heading into the 2024 election with a massive cash advantage over former President Trump.
He also has the power of the presidency — and billions of dollars in federal funds to release in crucial states.
Driving the news: Biden will flex those muscles in Chandler, Arizona, as he unwraps the biggest award in the $52 billion Chips and Science Act he signed into law in 2022.
It’s all part of Biden’s pitch to voters that his three signature legislative accomplishments — infrastructure, chips and green energy — will directly improve their financial standing and grow the broader economy.
He is using a three-day, three-state tour to make a series of policy and political pronouncements, including the launch of his “Latinos con Biden” on Tuesday.
