Two-Year-Old CHIPS Act Spurs Regional Growth, Lawmakers Say
[Stay on top of transportation news: Get TTNews in your inbox.]
A landmark law aimed at boosting domestic semiconductor production and easing supply chain constraints is showing promising results, according to senior congressional Democrats. Two years after its enactment, the CHIPS and Science Act is driving significant investments in U.S. manufacturing and technology.
This month, Sen. Maria Cantwell (D-Wash.), chairwoman of the Commerce Committee, touted the ongoing economic benefits associated with the law. The 2022 measure, a pillar of the White House’s “Build Back Better” economic agenda, promotes computer chip manufacturing and is meant to assist with the production of commercial transportation vehicles and equipment.
Cantwell emphasized a project in the Evergreen State that was awarded $35 million as a result of the law’s enactment.
“This award is a powerful vote of confidence in the potential of Olympic Peninsula communities,” Cantwell said in a statement Aug. 9. “By building off the region’s history and expertise in the marine and timber industries, and a decade of innovation in new materials like [cross-laminated timber] and composites, this federal investment will help launch new products our economy needs for commerce and defense while growing the local manufacturing workforce.”
Sen. Maria Cantwell (D-Wash.) praised the CHIPS and Sciences Act for its positive impact on her home state.
On the House side, Rep. Derek Kilmer (D-Wash.), a member of the Appropriations Committee, agreed with the chairwoman’s viewpoint. “We have here a diverse coalition of stakeholders throughout the North Olympic Peninsula committed to connecting people to economic opportunities,” he said. “This grant will help ensure that we can create good-paying, long-lasting jobs that will reinvigorate the region’s economy for decades to come. I just couldn’t be happier to see this happen for the region in which I grew up.”
RELATED: Harris Sticking With ‘Build Back Better’ Agenda for Campaign
Rep. Frank Pallone (D-N.J.), ranking member on the Energy and Commerce Committee, pointed to the CHIPS and Science Act’s role in funding programs that pave the way for mainstream adoption of advanced technologies.
Pallone
“These awards have unlocked hundreds of billions of dollars in private investment and are expected to generate 116,000 new manufacturing and construction jobs,” Pallone said Aug. 8. “This surge of investment in American manufacturing will help grow the middle class, create good jobs for years to come, lower costs for consumers, and help ensure America’s continued leadership in new and emerging technologies for generations to come. The CHIPS and Science Act is a win across the board.”
In the two years since President Joe Biden signed the measure into law, the Commerce Department indicated it has announced more than $30 billion in private sector investments. This covers nearly two dozen projects in 15 states.
Raimondo
“As a result of the CHIPS and Science Act, we’ve made huge strides over the past two years in implementing the program and amassing private sector interest and enthusiasm,” Commerce Secretary Gina Raimondo said this month. “Under the leadership of President Biden and Vice President [Kamala] Harris, we’re creating good-paying jobs and bringing semiconductor manufacturing back to the United States.”
The White House noted the country is on a trajectory to produce by 2032 nearly 30% of leading-edge chips worldwide. “In the past two years, agencies across the federal government have developed and executed on programs established under CHIPS to restore domestic semiconductor manufacturing, invest in research and development, support supply chain resiliency and national security, and catalyze economic and workforce development,” per the White House.
“While there is more to do,” Biden said Aug. 9, “my CHIPS and Science Act is bringing chips manufacturing back to America, strengthening global supply chains and is making sure the United States remains a world leader in [artificial intelligence] and other technologies that families, businesses and our military rely on each and every day.”
Want more news? Listen to today's daily briefing below or go here for more info:
