Biden infrastructure plan calls for CHIPS funding, innovation investment

The infrastructure plan the Biden administration is set to release on Wednesday endorses a range of congressional proposals aimed at boosting U.S. manufacturing and innovation to compete with China in high-tech areas and calls on Congress to fund many of the proposed initiatives. The White House wants Congress to invest $50 billion in the semiconductor manufacturing sector, create a technology directorate within the National Science Foundation and establish a Commerce Department office focused on domestic manufacturing -- all of which...