Raimondo's new mission: Leave no cash for Trump

Source: Politico

11/20/2024 05:00 AM EST


Commerce Secretary Gina Raimondo is on an urgent mission: get as much high-tech spending out the door before Donald Trump takes office.

The Biden administration is aiming to commit nearly every unspent dollar in its $50 billion microchip-subsidy program before President-elect Donald Trump takes over in January, an effort that would effectively cement a massive industrial legacy before the GOP can reverse course.

“I’d like to have really almost all of the money obligated by the time we leave,” Raimondo said in an interview with POLITICO. “That’s the goal, and I certainly want to have all the major announcements done as it relates to the big, leading-edge companies.”

The effort to spend her department’s full CHIPS Act budget would put a capstone on a signature Biden economic policy. It also speaks to the urgency facing a host of Biden’s historic raft of spending programs, many of which could be vulnerable to a Republican White House and Congress eager to pare back the most ambitious Democratic spending packages.

Read more: https://www.politico.com/news/2024/11/20/raimondo-commerce-trump-legacy-00190538