Michigan state lawmakers attend signing of CHIPS and Science Act
WASHINGTON (Gray DC) - Billions of dollars will now flow to the semiconductor industry. President Joe Biden signed bipartisan legislation Tuesday morning meant to boost American production of microchips that have become critical to many daily consumer products. The White House said the new law will help ease reliance on foreign supply chains, especially on chip manufacturing hubs in Taiwan and China.
The bipartisan CHIPS and Science Act of 2022 is meant to boost manufacturing and help alleviate supply chain disruptions in the semiconductor industry.
President Joe Biden also said this is going to help spur economic development across local communities.
President Biden said, “We’re going to tap into our greatest competitive advantage, our diverse and talented workforce. Urban, rural, suburban, and tribal.
President Biden signed the $280 billion bipartisan bill at the White House Rose Garden. More than $50 billion will incentivize manufacturing and research and development in the semiconductor industry.
The new law directs another $10 billion to encourage partnerships between local governments, higher education institutions, and businesses.
Michigan Democratic House Minority Leader Donna Lasinski said, “We’ve seen parking lots full of cars and trucks that were simply waiting for the semiconductors before they could be shipped to customers. This (CHIPS and Science Act) means products will be moving, people will be at work, our union jobs will be full, and our economy will be strong.”
Michigan Democratic State Representative Mari Manoogian said, “The impact for our state is bringing these supply chains home. For too long, we’ve been too reliant on importing these chips, importing the technology needed to make sure we’re manufacturing our vehicles with the latest and greatest technology that everyone really wants in their cars.”
Lasinski and Manoogian both attended the bill signing at the White House.
Congressman Kevin Brady (R-Texas) criticized the legislation, calling it a green light for higher taxes, corporate welfare, and said it will make inflation worse in the future.
Some Republicans, however, did join Democrats in helping pass the bill through both chambers.
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