Bill invests $52 billion in domestic semiconductor research and manufacturing
Today Rep. Greg Stanton voted to pass the America COMPETES Act, a legislative package that will supercharge American production of semiconductors and set Arizona up for long-term economic success.
The package invests $52 million in federal funding for to support American research and manufacturing of semiconductors—a key component in consumer electronics, cars, medical devices, defense systems and other products. The investment will address the global chip shortage, which the U.S. Department of Commerce called an “immediate crisis,” that has forced some manufacturers to slow production and driven up costs for consumers.
“We’ve worked hard to make Arizona—and especially the East Valley—a major tech hub, anchored and supported by the semiconductor manufacturing industry. This bill invests big time in domestic research and production, creating good-paying jobs and solidify our state’s reputation as destination for high-tech companies,” said Stanton.
The semiconductor industry employs nearly 29,000 Arizonans according to a report by the Semiconductor Industry Association—and the fabs, or factories, are largely clustered in the East Valley.
Stanton championed funding the CHIPS for America Act in the House, which was enacted as part of the FY21 National Defense Authorization Act, leading a letter to President Biden and joining his colleagues to call on Speaker Pelosi to swiftly fund the initiative.
The final bill also included Stanton’s bipartisan amendment that takes aim at Chinese government-backed businesses wrongfully influencing U.S. markets.
The House-passed American COMPETES Act and Senate-passed U.S. Innovation and Competition Act will now move to a conference committee before being sent to the President’s desk.