U.S. Chamber Urges Congress to Pass CHIPS Act Funding
WASHINGTON, D.C. – U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley issued the following statement today on the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act:
“The Chamber strongly supports the renewed push in Congress to approve funding for the CHIPS for America Act before the end of the month.
“Semiconductors are essential to nearly every sector of the economy. Unfortunately, demand for chips has outstripped supply, creating a global shortage and resulting in lost growth and jobs here at home.
“Passing this legislation to incentivize semiconductor research, design, and manufacturing in the United States will strengthen our economy and our national security. Recently, more than 240 state and local chambers of commerce and other business associations wrote to Congress urging swift action on these measures.
“With major investment decisions hanging in the balance, quick action is needed. The Chamber supported the Senate-approved USICA legislation, and we hope some elements of this bill can be revisited. However, with the opportunity to advance the CHIPS for America funding and related investment tax credit legislation this week, we urge members to cast a favorable vote.”
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