The CHIPS and Science Act will repair our supply chain and make America a world leader in science and technology.
FOR IMMEDIATE RELEASE
28 July 2022
Contact: Kevin McGuire, 202-538-2386 (mobile)
Washington D.C. – Today, Congresswoman Nanette Diaz Barragán (CA-44) voted to pass The CHIPS and Science Act, bipartisan legislation that makes bold investments to bolster America’s scientific research and technological leadership and improves production of semiconductors to break logjams in our supply chain.
Semiconductors are used in most every piece of modern technology, from dishwashers to vehicles to phones and computers. Additionally, the bill also makes investments in clean energy research and development and emissions monitoring to tackle the climate crisis with science at the forefront.
“After months of bipartisan negotiations, we have taken a major step forward to maintain America’s leadership in science and innovation,” said Rep. Barragán. “This legislation creates historic investments in manufacturing, production, and basic research and builds a diverse STEM workforce to tackle our most pressing issues. I’m proud to send this bill to President Biden’s desk and create more American jobs and allow America to reach its full potential.”
The CHIPS and Science Act will:
- Lowers costs for American consumers – 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.
- Creates 100,000 new good-paying jobs – creates strong Davis-Bacon jobs building hi-tech manufacturing facilities here in America.
- Ends our dangerous dependence on foreign manufacturers – bringing critical semiconductor manufacturing back to America instead of overseas where it can be threatened by our adversaries.
- Turbocharges American R&D – powering America’s preeminence in both basic research and next-generation technologies and ensuring that the technologies of the future are made here in America.
- Diversifies and expands the innovation workforce – broadening the pool of brainpower and talent so that we are embracing the full potential from all our communities, helping to diversify our STEM workforce, and advancing regional technology hubs to ensure communities across the country can help in American research and development.
This legislation also includes strong guardrails to ensure that federal semiconductor investments go straight into California’s economy – not corporate pockets or unfriendly nations. The CHIPS and Science Act will:
- Prohibit companies from using CHIPS funding for stock buybacks or dividend payments.
- Bar funding recipients from expanding semiconductor manufacturing in countries of concern.
- Require strong oversight and tight Congressional control over the use of federal funds.
The bill will be signed into law by President Biden in the coming days.
Nanette Diaz Barragán is proud to represent California’s 44th Congressional District, which includes the communities of Carson, Compton, Florence-Firestone, Lynwood, North Long Beach, Rancho Dominguez, San Pedro, South Gate, Walnut Park, Watts, Willowbrook and Wilmington. She serves as chairwoman of the House Homeland Security Committee’s Subcommittee on Border Security, and on the House Energy and Commerce Health, Energy, and Environment & Climate Change Subcommittees.