August 10, 2022 - WASHINGTON, D.C. - U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley issued the following statement on Tuesday on the signing of the CHIPS and Science Act into law:

“Today’s signing of the bipartisan CHIPS Act is a historic investment in America’s future—it will boost microchip production at home, strengthen our supply chains, increase domestic research and development, and bolster our national security.

“While the United States once led the world in semiconductor production, our share of global semiconductor manufacturing capacity dropped from 37% in 1990 to just 12% today. American companies are too reliant on foreign manufacturers and suppliers to secure necessary microchips, leaving us vulnerable and exposed. With today’s signing of the CHIPS Act into law, we take the first step to strengthening our economic and national security.

“The Chamber stands ready to support implementation of this critical funding bill that will boost our economy and put America  on a stronger, more competitive path for years to come.”
Source: U.S. Chamber of Commerce