• President Biden urged Congress to swiftly pass the Bipartisan Innovation Act, a multibillion dollar investment in the U.S. semiconductor industry.
• "Pass the damn bill and send it to me," Biden said. "If we do, it's going to help bring down prices, bring home jobs and power America's manufacturing comeback."
• The president stressed the bill appeals to American lawmakers because it seeks to bolster U.S. technology and innovation and keep pace with China.

President Joe Biden on Friday demanded Congress swiftly pass the Bipartisan Innovation Act, a multibillion-dollar investment in the U.S. semiconductor industry that both Republican and Democrat say will help insulate the country from future supply chain disruptions in Asia.

Biden spoke at United Performance Metals, a metal manufacturer near Cincinnati. Sens. Sherrod Brown and Rob Portman, a Democrat and Republican, respectively, from Ohio, joined the president.

Biden applauded the two men for their collaboration on the legislation as part of the broader bipartisan effort to bulk up domestic manufacturing.

"This is a bipartisan bill," Biden told workers at the plant. "Senators Brown and Portman are working hard to get it done."

"Pass the damn bill and send it to me," the president continued. "If we do, it's going to help bring down prices, bring home jobs and power America's manufacturing comeback."

While the Bipartisan Innovation Act is popular with members of both parties, House and Senate lawmakers are about to begin work on rectifying differences in their two legislative versions. Negotiators for both chambers, including Brown, will hold their first formal meeting on the bill on Thursday, a person familiar with the matter told Reuters.

Among its many provisions, the Bipartisan Innovation Act includes $52 billion in government subsidies to ramp up U.S. semiconductor production.

Biden said Friday that the sum will encourage semiconductor companies to build facilities in the U.S. and help prevent the types of chip shortages that currently undermine the automotive and electronics industries.

But the president stressed the thrust of the bill appeals to American lawmakers because it seeks to bolster U.S. technology and innovation and keep pace with China, a key geopolitical rival.

It's going to help "strengthen our economic and national security," Biden said. "It's no wonder the Chinese Communist Party is literally lobbying — paying lobbyists — against this bill passing."

Biden's trip to Ohio also comes as the president attempts to help fellow Democrats in the upcoming 2022 midterm elections and prevent a Republican takeover of Congress.

The GOP and its candidates have attacked the president and the Democratic Congress for their management of the U.S. economy, noting that inflation is at a 40-year high, oil prices are still above $100 per barrel and the national average price of a gallon of regular gasoline is $4.28.

Former President Donald Trump won Ohio in 2016 and 2020, thanks in part to Rust Belt frustrations over seeing manufacturers relocate jobs to countries where labor costs are lower. Voters will decide in November whether Trump-backed Republican author J.D. Vance or Democratic Rep. Tim Ryan will replace the retiring Portman in the Senate.

In his remarks, Biden highlighted the Labor Department's April employment report, which showed U.S. employers added 428,000 jobs last month.

The April report was the 12th straight month of gains over 400,000.