Biden Investing in America agenda spurs $900B in private manufacturing commitments

The Biden administration announces that its Investing in America agenda, anchored by the Infrastructure Law, CHIPS Act, and Inflation Reduction Act, has catalyzed nearly $900 billion in private sector commitments for US manufacturing facilities and clean energy infrastructure. Manufacturing investment as a share of GDP reaches its highest level since 1982. Foreign direct investment in US clean energy manufacturing increases more than seven-fold compared to the prior administration. The Buy American Act is updated with the most robust domestic content increases in 70 years, raising requirements from 55% to 75% by 2029. Over 20 million new business applications are filed in the Biden years, the most in US history.