MATSUI, MCCAUL STATEMENT ON FIRST CHIPS ACT PRELIMINARY MEMORANDUM OF TERMS

WASHINGTON, D.C. – Today, Congresswoman Doris Matsui (D-CA) and Congressman Michael McCaul (R-TX), co-authors of the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act, issued the following statement after the first CHIPS Act Preliminary Memorandum of Terms was issued by the Commerce Department.

“We introduced the original CHIPS Act three and a half years ago to solve an urgent national security threat,” said the lawmakers. “Our military depends on a secure and predictable supply of semiconductors to build its most vital and sensitive equipment. Today’s announcement shows the CHIPS Act is working as intended – enhancing domestic manufacturing capacity and building a resilient, diversified supply chain; two national security imperatives. As co-authors of this groundbreaking legislation, we will continue working with urgency to implement the CHIPS Act quickly and reaffirm America’s global innovation leadership.”

Congresswoman Matsui and Congressman McCaul introduced the original CHIPS Act in June 2020 alongside Senators John Cornyn (R-TX) and Mark Warner (D-VA). They successfully included an amendment based on the CHIPS Act as part of the FY21 National Defense Authorization Act (NDAA)to enable the building and modernization of semiconductor manufacturing facilities in America.  Together, they led efforts to secure this funding through the CHIPS and Science Act.                     

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