President Biden Signs Warner Legislation to Increase Production of Semiconductor Chips into Law
Aug 09 2022
WASHINGTON – U.S. Sen. Mark R. Warner (D-VA), Chairman of the Senate Select Committee on Intelligence, issued a statement after President Biden signed the CHIPS and Science Act into law:
“The Chips and Science Act will lower costs for families, strengthen our national security, and create good-paying manufacturing jobs here in the United States, and I’m proud to have shepherded it into law.”
Nearly everything that has an “on” switch – from cars to phones to washing machines to ATMs to electric toothbrushes – contains a semiconductor, but just 12 percent of these ‘chips’ are currently made in America. The CHIPS and Science Act includes $52 billion in funding championed by Sen. Warner to manufacture chips here on American soil – a move that will increase economic and national security and help America compete against countries like China for the technology of the future.
Sen. Warner, co-chair of the Senate Cybersecurity Caucus and former technology entrepreneur, has long sounded the alarm about the importance of investing in domestic semiconductor manufacturing. Sen. Warner first introduced the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act in June 2020 along with Sen. John Cornyn (R-TX).