Weather Futures Markets Headline News Portfolio Quotes Grain Charts
 

 
Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
Biden to Mark IBM Investment With Dems 10/06 06:08

   President Joe Biden is ready to celebrate a new $20 billion investment by 
IBM in New York's Hudson River Valley with two House Democrats running in 
competitive races in next month's critical midterm elections.

   WASHINGTON (AP) -- President Joe Biden is ready to celebrate a new $20 
billion investment by IBM in New York's Hudson River Valley with two House 
Democrats running in competitive races in next month's critical midterm 
elections.

   Biden is taking part in a Thursday afternoon announcement at the IBM 
facility in Poughkeepsie, New York. He is expected to hold out the company's 
plans as part of what the White House says is a manufacturing "boom" spurred by 
this summer's passage of a $ 280 billion legislative package intended to boost 
the U.S. semiconductor industry and scientific research.

   Democrats facing tough midterms races have largely avoided appearing with 
Biden in the leadup to November's elections. But Biden, whose approval ratings 
remain underwater, will be joined by two House incumbents in competitive New 
York races who are bucking the trend: Reps. Sean Patrick Maloney and Pat Ryan.

   "When I heard @POTUS was looking to see the benefits of the CHIPS & Science 
Act first-hand, I told him that the Hudson Valley was the perfect place," 
Maloney wrote on Twitter on Wednesday. "I'm thrilled to host him in 
Poughkeepsie this week to celebrate the major wins and good-paying jobs we are 
delivering here in NY."

   The CHIPS and Science Act, which Biden signed into law in August, was a rare 
piece of legislation for which the president was able to win bipartisan support.

   IBM's $20 billion investment over the next decade is intended to bolster 
research and development and manufacturing of semiconductors, mainframe 
technology, artificial intelligence and quantum computing in New York's Hudson 
River Valley, according to the White House.

   The IBM investment comes on the heels of chipmaker Micron announcing earlier 
this week an investment of up to $100 billion over the next 20-plus years to 
build a plant in upstate New York that could create 9,000 factory jobs.

   Maloney, chairman of the powerful Democratic congressional campaign 
fundraising arm, is running against Republican state Assemblyman Mike Lawler in 
New York's 17th District. Ryan is up against state Assemblyman Colin Schmitt in 
the 18th District.

   The boundaries of most New York districts, including Maloney's and Ryan's, 
have been affected by redistricting.

   Ryan in August won a close special election to serve out the term of 
Democrat Antonio Delgado, who vacated his 19th District seat after he was 
appointed lieutenant governor by Democratic Gov. Kathy Hochul. Ryan is running 
to serve a full term in the 18th District, where he lives.

   Maloney, who had served New York's 18th District since 2013, decided to run 
in the 17th District. His Hudson Valley home fell inside the new boundaries 
after redistricting.

   Hochul, who took office last year after Democrat Andrew Cuomo resigned amid 
sexual harassment allegations, is also scheduled to attend. She's looking to 
win a full term in next month's election against Republican Rep. Lee Zeldin.

   Later Thursday, Biden will head to central New Jersey for a fundraiser at 
the home of Gov. Phil Murphy in support of the Democratic National Committee. 
In the evening, he heads to Manhattan for a Democratic Senatorial Campaign 
Committee fundraiser hosted by James Murdoch, the son of conservative News 
Corp. publisher Rupert Murdoch.

   Murdoch and his wife, Kathryn, a climate change activist, were major donors 
to Biden's 2020 presidential campaign. In 2020, Murdoch resigned from the board 
of News Corp. amid differences over editorial content at his father's company, 
which operates The Wall Street Journal and the New York Post. The elder Murdoch 
is also chairman of Fox Corp., which includes Fox News Channel.

   While Biden has been kept at arms length by many Democratic candidates, he's 
been a prodigious fundraiser for his party this election cycle, raising more 
than $19.6 million for the Democratic National Committee.

 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN