WASHINGTON (Reuters] – U.S. House speaker Nancy Pelosi stated Friday that the House of Representatives would shortly introduce a bill on competivity to support semiconductor investments and supply chains.

Just hours later, the announcement was made. Intel Corp (NASDAQ) stated it would invest more that $20 billion to build two Ohio-based chip-making factories. This is a huge manufacturing project which could reap the benefits of federal funding over time.

As supply chains have become more complicated due to shortages of key components for computers and automobiles, President Joe Biden’s government is trying to get Congress to fund chip production.

Biden has to deal with Americans frustration at inflation reaching a nearly 40-year high, partly because the COVID-19 pandemic has disrupted global supply chains.

A Reuters/Ipsos poll showed that his public approval rating was 43%. This is the lowest point of his presidency.

Pelosi sent a letter to Democratic counterparts stating that the House legislation “will supercharge our investi in chips and strengthen our supply chains, transform our research capacities, as well as many other key provisions.”

In a Wednesday news conference, Biden stated that inflation was “everything” to do with supply chains and that the United States could become independent on its computer chips to make automobiles.