From the Daily Caller: Vivek Ramaswamy took to social media Tuesday to criticize the Biden administration for its rapid allocation of $50 billion in chipmaking subsidies.
In a post on X, previously known as Twitter, Ramaswamy shared a Politico interview where Commerce Secretary Gina Raimondo detailed her plans to speed up the CHIPS and Science Act. Ramaswamy also said that members of the Biden administration aim to finalize the funds before President-elect Donald Trump assumes office in January.
During the interview with Politico, Raimondo said she intends to obligate nearly all the designated funds before Jan. 20.
“I’d like to have really almost all of the money obligated by the time we leave,” Raimondo told Politico.
Politico explained:
The administration finalized more than $16 billion in final awards for five companies after the election: TSMC, GlobalFoundries, Rocket Lab, BAE Systems and Intel. The Biden administration had unveiled just one contract before that, $123 million for Minnesota chipmaker Polar Semiconductor.
“Biden’s Commerce Secretary @SecRaimondo says Jan 20 is “a clear deadline” for pushing $$ out the door: “I’d like to have really almost all of the money obligated by the time we leave.” This is highly inappropriate: they’re accelerating spending ahead of the transition of power,” Ramasamy declared.
!!
— Elon Musk (@elonmusk) November 26, 2024
In another post Wednesday morning, Ramaswamy wrote, “We are acutely aware of the reality that the outgoing Biden administration is pushing out $$ and proposing new regulations at a fast pace to get ahead of Jan 20. All midnight-hour expenditures & new regulations will get special scrutiny and should be rescinded where appropriate.”
We are acutely aware of the reality that the outgoing Biden administration is pushing out $$ and proposing new regulations at a fast pace to get ahead of Jan 20. All midnight-hour expenditures & new regulations will get special scrutiny and should be rescinded where appropriate.
— Vivek Ramaswamy (@VivekGRamaswamy) November 27, 2024
Raimondo’s new mission: Leave no cash for Trump https://t.co/SS4oEX3ZhJ
— POLITICO (@politico) November 20, 2024
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