MATSUI STATEMENT ON TWO YEAR ANNIVERSARY OF CHIPS AND SCIENCE ACT

WASHINGTON, D.C. – Today, Congresswoman Doris Matsui (D-CA), co-author of the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act, issued the following statement on the two-year anniversary of President Biden signing the CHIPS and Science Act into law.

“In its second year, the CHIPS Act remains a bedrock for U.S. semiconductor innovation and job creation,” said Congresswoman Matsui. “When we started this effort back in 2020, we knew it was both an economic and national security imperative to reignite domestic manufacturing and secure a resilient, diversified supply chain. The CHIPS Act is working as intended. So far, it has awarded over $30.5 billion in funding for projects expected to create over 115,000 jobs nationwide. Concurrently, the private sector has announced nearly $450 billion in semiconductor manufacturing investments. These investments are creating long-term economic anchors for communities across the country. Innovation has always been the backbone of America’s economic edge – and I will continue to work hard to ensure we send a clear message to the rest of the world that we are still the global gold standard.”

Congresswoman Matsui and Congressman Michael McCaul (R-TX) 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. They also led efforts to secure this funding through the CHIPS and Science Act. Last week, she introduced the Semiconductor Technology Advancement and Research (STAR) Act, bipartisan legislation that will supercharge U.S. semiconductor research and design by creating an investment tax credit for semiconductor design expenditures. 

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