Pence
A bipartisan bill co-authored by a local congressman passed out of the U.S. House of Representatives.
House Resolution 752, otherwise known as the Securing Semiconductor Supply Chains Act, passed out of the House on a voice vote Tuesday. The bill was co-authored by Rep. Greg Pence, R-Indiana, and Rep. Anna Eshoo, D-California.
The Securing Semiconductor Supply Chains Act is designed to strengthen federal efforts to expand domestic manufacturing of semiconductor chips. The bill would require the U.S. Department of Commerce’s SelectUSA program, which was established to improve federal efforts that attract job-creating business investments in America, to coordinate with state-level economic development organizations to increase foreign direct investment in semiconductor-related manufacturing and production, according to a press release from Pence’s office.
“Over the past few years, Hoosiers in the sixth district and all Americans have felt the ripples in our economy caused by shortages of semiconductor chips. We have learned the hard way that we cannot rely solely on adversarial nations to secure semiconductor chips,” Pence said in the statement. “I am proud to see the Securing Semiconductor Supply Chains Act, which will expand foreign direct investment into domestic manufacturing of semiconductor chips and create good paying jobs, pass the House last night, and I want to thank Congresswoman Eshoo for working with me on this bipartisan legislation.”
Thirty years ago, the U.S. manufactured nearly 40% of all semiconductors. Today, however, the country produces only 12%. The lack of domestic semiconductor manufacturing poses “a significant risk” to the U.S. economy and national security, Eshoo said in a statement.
“I’m proud the House passed our bipartisan legislation today, the Securing Semiconductor Supply Chains Act, which bolsters domestic semiconductor production and reduces reliance on foreign supplies,” Eshoo said. “This bill, along with the investments in the CHIPS and Science Act, will bring the U.S. back to be number one in the world in semiconductor manufacturing and maintain our leadership in technological innovation.”
The CHIPS Act is a $280 billion package signed into law in 2022 to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and help it better compete with international rivals, namely China, according to the Associated Press.
