WASHINGTON, DC – Today, Congresswoman Madeleine Dean voted for historic, bipartisan legislation to strengthen America’s economic independence, scientific dominance, and global competitiveness. The CHIPS and Science Act will increase domestic manufacturing of semiconductor chips that are essential in making our cars, refrigerators, health care equipment, and other technology.
A nationwide shortage of semiconductor chips has severely disrupted American manufacturing – slowing down production, spiking prices, and increasing our dependence on foreign manufacturing. Only 12 percent of semiconductor chips are currently manufactured domestically – a dramatic drop from 37 percent in the 1990s – while foreign competitors are investing heavily to dominate this critical national security industry.
“The CHIPS and Science Act is a major victory for Pennsylvania and our nation,” Rep. Dean said. “Chips are crucial for so many goods, and we’ve seen how the pandemic and supply chain issues have affected our everyday lives because we do not make enough semiconductor chips here at home. This bipartisan legislation will revitalize American manufacturing, lower costs for families, and bolster our economic independence so that we can better meet the demands of the 21st century.”
The CHIPS and Science Act will:
Lower costs for Americans by making more critical semiconductor components in America, helping end the shortage of chips that have driven up the price of everything from cars to consumer goods.
Create 100,000 new good-paying jobs in hi-tech manufacturing facilities here in America.
End our dangerous dependence on foreign manufacturers by bringing critical semiconductor manufacturing back to America instead of overseas.
Strengthen American research and development in next-generation technologies.
This legislation also includes strong guardrails that prohibit companies from using CHIPS funding for stock buybacks or dividend payments, bar funding recipients from expanding semiconductor manufacturing in countries of concern, and require strong oversight and tight Congressional control over the use of federal funds.
Previously passed by the Senate, the CHIPS and Science Act now heads to the President’s desk to be signed into law.
Rep. Madeleine Dean is a mother, grandmother, attorney, professor, former four-term member of the Pennsylvania House of Representatives, and U.S. Representative for the Fourth District of Pennsylvania.