Bipartisan bill makes $52 million investment in semiconductor industry to boost manufacturing, enhance U.S. competitiveness
PHOENIX (July 27, 2022)—The U.S. Senate today passed with bipartisan support sweeping legislation that will bolster U.S. semiconductor manufacturing, advance the country’s global competitiveness, and strengthen its overall economy and national security.
The CHIPS-Plus bill, which provides $52 billion in federal investments to spur domestic semiconductor research, development and manufacturing, has been championed by the business community and industry leaders as a crucial step to address America’s chip shortage, ameliorate inflation and supply chain issues, and put the U.S. on a more competitive footing with China.
“I commend members of the U.S. Senate who worked across the aisle to pass broadly supported legislation that will play a vital role in boosting American competitiveness and securing Arizona’s position as a national hub for advanced manufacturing jobs,” Chamber President and CEO Danny Seiden said. “Under the leadership of Gov. Ducey and the state Legislature, Arizona has worked hard to embrace and enact pro-growth policies that have established our state as the No. 1 destination for semiconductor production.
“With lower taxes, a growing workforce, an attractive regulatory environment and a booming manufacturing sector, Arizona stands to benefit greatly from this legislation, which will support semiconductor operations up and down the supply chain while strengthening our nation’s economy and national security. We’re grateful to the Senate for approving this significant and necessary investment in our economic future, and we urge the House to send it to the president’s desk as soon as possible.”
Arizona Commerce Authority President and CEO Sandra Watson also lauded passage of the CHIPS Act.
“We applaud the Senate’s bipartisan passage of the CHIPS For America Act,” Watson said. “This critical legislation will significantly strengthen U.S. competitiveness for semiconductors, bringing more jobs and investments to Arizona. In addition, Arizona is well positioned to benefit from new research funding advanced in the bill. Under Governor Ducey’s leadership, Arizona has become the premier destination for semiconductor investments — with more opportunity ahead. I’m grateful to Senator Kelly, a key member of the conference committee, and all our federal partners for championing this crucial legislation to bolster America’s semiconductor industry.”
The House is expected to hold a final vote on the legislation later this week.
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