>Four Bills passed in the Summer of 2022
During the summer of 2022, President Biden signed five significant bills that passed Congress. The first is a bipartisan Safer Communities Act ( limited gun control), the second is the Chips and Science Act( invests in semiconductor manufacturing in the US), and the Inflation Reduction Act of 2022. ( energy, prescription drugs, and taxation) and finally, an expansion of veteran benefits.
After a Spring in which it seemed that the Biden Administration could not pass any significant legislation, the summer of 2022 changed that with the passage of four important bills. The first three with limited bipartisan support, and the third as part of the budget reconciliation process with Democratic support alone.
The first bill to pass was the Safer Communities Act. The act was passed after two mass shootings, one in a supermarket in Buffalo, New York and the second at Ulvalde Elementary School in Texas. The act, the first gun control legislation in twenty years, provided $750 million for crisis intervention centers which would help states implement red flag laws for people who are deemed dangerous. It also closed the so-called “boyfriend” loophole, which barred people who were considered dangerous to spouses or people they have children with, but excluded couples who did not fall into those categories.
The bill gives grants to states to include juvenile records in the National Instant Criminal Background Check System.
It also increased the number of dealers that are required to do background checks. Finally, it increases funding for mental health programs and school security. The bill passed with several Republican votes.
The Second Bill, the Chips and Science Act. It provides funding for the previously passed Chips for America Act and the USA Telecom Act. The bill which is the most significant R&D investment in United States history allocates a total of $248.1 billion for research and development of microchips as well as for the domestic production of chips. $39 billion was allocated to modernize and build new semiconductor manufacturing facilities in the United States. An additional $11m Billion has been provided the DOC National Technology Center,the DOC National Advanced Packaging Manufacturing Program, the DOC Manufacturing USA Semiconductor Institute, and the DOC Microelectronics Metrology for R&D programs.
There is also a tax credit of up to $24 Billion for companies to invest in domestic semiconductor manufacturing. The act also has funds to train the workforce, money for the Department of Defense's needs for semiconductor development, and money for security.
The third legislation passed was the PACT act that expanded veteran benefits to those who became ill from burn pits and other toxic sites on the battlefield.
The Inflation Reduction Act of 2022 which only had a minimum to do with inflation, was made up of several components. The first $391 Billion to encourage alternative energy and electric cars, the second additional subsidies to the Affordable Care Act, as well allowing the government for the first time to negotiate the price of prescription drugs for Medicaid, the third additional funding for the IRS to bring in more revenue, and finally a corporate minimum tax based on reported earning to stockholders and tax returns.