April 10th, 2021 Demetrius Freeman/The Washington Post via Getty Images President Biden isn't relying solely on an executive order to deal with chip shortages. The Verge reports that the Biden White House has issued its first budget proposal, and the plan would spend $150 million to establish two Manufacturing Innovation Institute programs that include one for domestic chip production. The relevant institute would help the US reclaim its title as a "global leader" in semiconductor manufacturing, according to the tentative budget. The proposal doesn't outline just how the institute would accomplish its goals, or which companies might get support. Intel and Samsung are two of the best-known companies with US-based chip plants, while TSMC will start building an Arizona factory this year.