February 7, 2022 - WASHINGTON - Last week, Rep. Jim Costa (CA-16) voted to pass the America COMPETES Act of 2022. This transformative legislative 
package will supercharge American production of semiconductor chips, strengthen U.S. supply chains and American manufacturing, advance U.S. scientific excellence and research, and position American interest to win on the world stage.
“This legislation provides a critical investment in strengthening our domestic supply chain in critical industries to create jobs at home and ensures the United States continues to be the global leader in scientific research and innovation for decades to come,” said Costa. “As our economy recovers from the impact of Covid-19, it’s important we provide the resources to position our country to take on current and future challenges.”
Key points of the COMPETES Act include:
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$52 billion for U.S. semiconductor chip production
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Semiconductors are key components of consumer electrics, cars, defense systems, and other key products
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Domestic production of semiconductors chips will help ease the impact of supply chain disruption that is driving up prices
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$45 billion to strengthen supply chains and U.S. manufacturing
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Advancing American scientific research by strengthening our nation’s STEM workforce
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Holding China accountable for trade abuses that hurt U.S. workers, and for its human rights violations, including genocide against the Uyghurs and violation of individual freedoms in Hong Kong, while also strengthening the US partnership with Taiwan.
The bill also includes an amendment from Rep. Costa, which requires the Secretary of State to submit a report to Congress on China’s investments in mining industries in countries from where the U.S. imports critical minerals, metals, and materials.
Rep. Costa also co-sponsored an amendment that requires the Secretary of Agriculture and the Assistant Secretary of Supply Chain Resilience and Crisis Response to monitor U.S. food and agriculture supply chains and provide Congress with their findings.
A fact sheet on the America COMPETES Act of 2022 can be found here.
Source: Congressman Jim Costa
