Citing National Security Concerns, Biden-Harris Administration Announces Inquiry into Connected Vehicles

The U.S. Department of Commerce issued an advance notice of proposed rulemaking (ANPRM) seeking public comment to inform the potential development of regulations to secure and safeguard the Information and Communications Technology and Services (ICTS) supply chain for connected vehicles (CVs).

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Commerce Stands Strong with Ukraine, Takes Further Action Against Ongoing Russian Aggression

Following the death of opposition politician and anti-corruption activist Aleksey Navalny, and after two years of Russia’s unprovoked and unlawful full-scale invasion of Ukraine, the Commerce Department’s Bureau of Industry and Security (BIS) imposed additional export restrictions on 93 entities under 95 entries in Russia and seven other destinations. This action, along with others announced today, demonstrates the Biden-Harris Administration’s unwavering commitment to supporting those affected by Russia’s aggression.

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Biden-Harris Administration Announces Preliminary Terms with GlobalFoundries to Strengthen Domestic Legacy Chip Supply for U.S. Auto and Defense Industries

The Biden-Harris Administration announced that the U.S. Department of Commerce and GlobalFoundries (GF) have signed a non-binding preliminary memorandum of terms (PMT) to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to strengthen U.S. domestic supply chain resilience, bolster U.S. competitiveness in current-generation and mature-node (C&M) semiconductor production, and support economic and national security capabilities.

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U.S. Department of Commerce Releases 2023 Update to Equity Action Plan, Outlines New Commitments to Advance Equity

The U.S. Department of Commerce released the 2023 update to its Equity Action Plan, in coordination with the Biden-Harris Administration’s whole-of-government equity agenda. This Equity Action Plan is part of the Department’s efforts to implement the President’s Executive Order on “Further Advancing Racial Equity and Support for Underserved Communities Through The Federal Government,” which reaffirmed the Administration’s commitment to deliver equity and build an America in which all can participate, prosper, and reach their full potential.

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Biden-Harris Administration Launches Next Phase for Over $5 Billion in CHIPS R&D Investments, Including the National Semiconductor Technology Center (NSTC)

Leaders from the Departments of Commerce, Defense, and Energy; and the National Science Foundation; and the Chief Executive Officer of the National Center for the Advancement of Semiconductor Technology (Natcast) gathered at the White House to announce over $5 billion in expected investment in the CHIPS R&D program, including the National Semiconductor Technology Center (NSTC), and formally establish a public-private consortium for the NSTC.

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U.S. Commerce Secretary Gina Raimondo Announces Key Executive Leadership at U.S. AI Safety Institute

U.S. Secretary of Commerce Gina Raimondo announced today key members of the executive leadership team to lead the U.S. AI Safety Institute (AISI), which will be established at the National Institute for Standards and Technology (NIST). Raimondo named Elizabeth Kelly to lead the institute as its inaugural director and Elham Tabassi to serve as chief technology officer.

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Personal Income and Outlays, January 2024

Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January. Disposable personal income (DPI)—personal income less personal current taxes—increased $67.6 billion (0.3 percent).

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Census Bureau Releases Nonemployer Business Data by Demographic Characteristics of Owners

Women owned 41.1% (11.2 million) and minorities owned 36.7% (10 million) of the nation’s nonemployer businesses (those without paid employees) and had $307.9 billion and $345.1 billion, respectively, in receipts in 2020, according to the new Nonemployer Statistics by Demographics (NES-D) released by the U.S. Census Bureau. There were a total of 27.2 million nonemployer businesses with $1.3 trillion in receipts in 2020.

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ITA Forecasts More than 15% Increase of International Visitors to the United States in 2024

The International Trade Administration released the U.S. government’s official forecast of international visitation to the United States. ITA’s National Travel and Tourism Office forecasts the total volume of international visitation to the United States to increase to 77.7 million in 2024, up 10.4 million, or 15.4% from 67.3 million visitors in 2023. NTTO also estimates international visitation to reach 85.2 million in 2025, surpassing pre-pandemic 2019 visitation of 79.4 million.

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Climate Change Efforts Forge Ahead Thanks to the Inflation Reduction Act

As we proceed into 2024, we want to make sure you’re caught up on our efforts toward mitigating climate change. In 2023, we received historic funding under the Inflation Reduction Act, which has allowed us to prioritize and tackle several critical areas impacted by climate change.

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