“We passed the CHIPS and Science Act that will bring back domestic manufacturing jobs to the United States of America.” -Rep. Jeffries
Rep. Jeffries was proud to support Public Law No: 117-167, the CHIPS and Science Act. Signed by President Biden on August 9, 2022, this piece of legislation makes historic investments into U.S. workers, communities and businesses in order to strengthen American competitiveness in the 21st century.
The CHIPS and Science Act will boost American semiconductor research, development and production. Semiconductors are crucial to almost every industry and are used in everything from computers to cars to healthcare devices. However, while the U.S. invented the semiconductor, it only produces approximately 10 percent of the world’s supply. The CHIPS and Science Act will unlock hundreds of billions of private sector semiconductor investments while simultaneously lowering costs for families, addressing inflation and strengthening national security.
Highlights of the CHIPS and Science Act:
- $39 billion for the CHIPS for America Fund to provide federal incentives to build, expand or modernize domestic facilities and equipment for semiconductor fabrication, assembly, testing, advanced packaging or research and development.
- $13.2 billion to build the STEM workforce, including to establish an artificial intelligence scholarship-for-service program, a national network for microelectronics education and cybersecurity workforce development programs.
- $10 billion Regional Technology Hubs to support regional economic development efforts around the country to not only research and innovate technologies, but also manufacture them here in America.
- $2 billion to strengthen the cybersecurity, workforce training and supply chain resiliency of small- and medium-sized manufacturers.
- Over $800 million to grow Manufacturing USA to support the creation of new competitively awarded manufacturing research institutes with expanded capacity for education and workforce development.
How the CHIPS and Science Act Will Impact You:
- Creates jobs and spurs economic development. Specifically, it authorizes a RECOMPETE pilot program to alleviate economic distress in marginalized communities. This will help lower costs and address inflation for average Americans.
- Provides workforce development training and expanded investments in STEM education so more Americans can take advantage of good-paying skilled jobs.
- Promotes equity in STEM and innovation through new initiatives to support Historically Black Colleges and Universities (HBCUs) and other minority-serving institutions. The law also gives agencies the tools to combat sexual and gender-based harassment in related fields. Everyone will have the opportunity to benefit from the CHIPS and Science Act.
Read the CHIPs and Science Act here.