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One Year After Enactment, CHIPS & Science Act is on Path to Success; Work Remains to Maximize Impact
August 9, 2023 | SIAEstimated reading time: 1 minute
Semiconductor Industry Association (SIA) President and CEO John Neuffer released the following statement regarding the one-year anniversary of enactment of the CHIPS and Science Act, a landmark law that provides $52 billion for semiconductor manufacturing incentives and research initiatives.
“Enactment of the CHIPS and Science Act one year ago today was a pivotal moment in recent American history, uniting government leaders from across the political spectrum to reinvigorate U.S. semiconductor production and reinforce America’s economic strength, national security, and technological competitiveness. On the first anniversary of CHIPS enactment, we applaud the untiring leadership of its champions in Congress—led by Sens. Schumer, Cornyn, Warner, and Young, as well as Reps. Matsui and McCaul—and salute the unwavering determination of President Biden, Secretary Raimondo, and others in the administration to get the legislation across the finish line.
“While implementation of the new law is still ongoing and no funds have been distributed yet, companies in the semiconductor ecosystem have already announced dozens of new projects in the U.S.—totaling hundreds of billions of dollars in private investment—in anticipation of CHIPS incentives. Now, with CHIPS on track to deliver massive benefits to our country, it’s critical for leaders in Washington to advance policies that enhance this historic accomplishment. Next steps should include continuing to implement the new law in a timely manner and in close collaboration with industry experts, addressing the significant shortage of STEM workers facing the semiconductor sector and the entire U.S. economy, and ensuring the chip industry has open access to global markets.
“By enacting the CHIPS and Science Act one year ago, leaders in Washington rose to a fundamental challenge of our time and set America on course to produce a much greater share of a technology that will help define our future. Working together, we can maximize the new law’s impact and unleash the full potential of semiconductor innovation for many years to come.”
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