#biden

On Thursday, President Joe Biden spent part of his day listening to a group of lawmakers discuss how much the United States might need to spend on fixing its horrible infrastructure. It’s an issue America has neglected through multiple administrations and has frequently been set back by partisan conflict.

Considering the White House is ruminating on how to source trillions of dollars in new infrastructure spending after the U.S. just printed $9 trillion (almost 25 percent all USD currently in circulation) for COVID relief, that’s unlikely to change. Everyone is worried about raising taxes and causing inflation during a period of economic uncertainty, or skeptical that the government will use the new funding responsibly. But our roads (among other infrastructure projects) are reaching a point where they can no longer be ignored, placing the entire country in a particularly sour pickle.

Automakers around the globe have been issuing warnings for weeks that the semiconductor shortage will eventually result in fewer cars and leaner profitability reports. But the absent chips are affecting just about every industry producing modern connected devices, creating fears that electronic prices could skyrocket as availability dwindles. Lockdowns effectively crippled semiconductor supply lines right as demand peaked and everyone is starting to get a little worried about how it’s going to impact production in other industries.

The White House is reportedly taking steps to mitigate the issue by tasking Brian Deese (Director of the National Economic Council) and Jake Sullivan (National Security Adviser) with coming up with a solution. It’s also asking embassies to assist chip suppliers around the world however possible and hopefully suss out a way to stop the global shortage. Meanwhile, Deese and Sullivan will be focusing the brunt of their efforts on Taiwan.

We asked you a bit ago what the Biden administration might mean for the automotive industry.

We now have a partial answer.

Despite the obscene level of confusion surrounding the U.S. election that’s been left unresolved, the media has reported that Joe Biden is supposed to become the next president (Ed. note — not only that, but the Electoral College has certified Biden’s win). While we cannot speak to continued legal challenges being presented or the now-reported FBI corruption probe looking into international money-laundering allegations against the Biden family, we do know that Joe is supposedly tapping Pete Buttigieg as Transportation Secretary.

The former mayor of South Bend, Indiana, who has never held federal office before, is being reported by Reuters as the former VPs pick for the cabinet role. While that should just about wrap up this story, the outlet wanted to make sure you were aware of the importance of this somewhat speculative news.

California governor Gavin Newsom has signed an executive order that will ban the sale of new cars that are gasoline-powered, beginning in the year 2035.

“This is the most impactful step our state can take to fight climate change,” Newsom said in a statement. “For too many decades, we have allowed cars to pollute the air that our children and families breathe. You deserve to have a car that doesn’t give your kids asthma… Cars shouldn’t melt glaciers or raise sea levels threatening our cherished beaches and coastlines.”

Keen to sweep as much attention away from the 2020 Democratic National Convention as possible, President Donald Trump campaigned in Old Forge, PA while Joe Biden accepted the Democratic nomination at a largely virtual event. You’ll be forgiven for not having watched either, as both amounted to little more than bashing the opposing side with nary a hint of actual policy. But Trump came the closest to offering something truly substantive, reiterating threats to companies to bring factory jobs back to the U.S. or suffer the consequences.

The president insisted that manufacturers would soon find themselves in a situation that benefits America whether they complied or not. “We will give tax credits to companies to bring jobs back to America, and if they don’t do it, we will put tariffs on those companies, and they will have to pay us a lot of money,” Trump said during the event.

This is the Memorial Day weekend, when we commemorate our fallen heroes and raise our cancer risk by burning chopped beef. Listening to the media, it looks and sounds like the fallen heroes of the year are not the ones who gave and give their lives in ceaseless wars, but the auto industry. It didn’t quite die. It was medevaced in a TARP and helped by the PTFOA to get over its PTSD.

Instead of thanking the nation’s heroes (he did so in an afterthought, asking for “single acts of kindness”) VP Biden thanked himself: