Biden urges passage of innovation act in meeting with governors, CEOs

March 9 (UPI) -- President Joe Biden met with business leaders and the governors of Indiana and Michigan in a live-stream video Wednesday urging passage of the bipartisan Innovation Act.

"I'm urging the House and the Senate to work out the differences between the two versions of the bill and get it to my desk as quick as you can," Biden said during the live stream.

Biden said the bill would make American supply chains stronger, would reinvigorate innovation in the U.S. economy, create jobs and decrease reliance on other countries during times of war or pandemic.

Biden said the bill would help ramp up semiconductor manufacturing. But he said it's not just about building semiconductors.

"It includes an office at the Department of Commerce tasked with monitoring and strengthening supply chains," Biden said.

Indiana Gov. Eric Holcomb said: "We need to get this done, we need to get it on your desk, we need to get it signed. ... The Midwest is no longer the rust belt. We are a shining buckle on that belt and we're not just open for business but able to do more."

Michigan Gov. Gretchen Whitmer said: "This is a huge opportunity for our nation. In places like Michigan this is about creating good paying jobs. This is about national security."

The meeting included executives from Samsung, Whirlpool, Micron, Hewlett-Packard and Medtronic.

Samsung has announced a new $17 billion Texas semiconductor plant.

Biden said the Bipartisan Innovation Act already has bipartisan support in the House and in the Senate. He said the bill is sorely needed to spur investments in technology and innovation, particularly in manufacturing.

Since Biden took office, he said 432,000 U.S. manufacturing jobs have been created.