Biden to announce $20 billion Intel chip factory funding.

On Wednesday in Arizona, President Biden will unveil $20 billion in grants and loans for Intel to expand its semiconductor production, promising 10,000 new employment in the swing state.


Why it matters: Biden has a huge cash edge over Trump in 2024.


He has presidential power and billions in federal cash to unleash in key states.


Biden will demonstrate his power in Chandler, Arizona, as he unveils the largest award under the $52 billion Chips and Science Act he signed in 2022.


Biden tells citizens that his three signature legislative accomplishments—infrastructure, chips, and green energy—will help their finances and boost the economy.


On Tuesday, he launched "Latinos con Biden" on a three-day, three-state tour of policy and politics.


Intel can borrow up to $11 billion from the Commerce Department in addition to the $8.5 billion incentives.


Intel will invest $100 billion after receiving those awards and a Treasury tax credit.


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