Washington, DC – Representative Mikie Sherrill (NJ-11) voted to pass the CHIPS and Science Act, legislation that will bring down costs and help to lower inflation for New Jersey families by easing the national semiconductor shortage. The bill will also significantly strengthen American competitiveness and national security by investing in advanced R&D and domestic manufacturing, helping our country to better compete with China and other foreign adversaries.
"My top priority in Congress right now is to bring down prices and the cost of living for families in NJ-11, and this legislation is a crucial step towards achieving that goal," said Rep. Sherrill. "The semiconductor shortage over the past two years has played a critical role in surging inflation, as production of everything from cars to electronics has declined significantly, leading to higher prices for items we use every day. This legislation will boost domestic manufacturing of microchips to ensure that we address this shortage and reduce prices, and will also boost the competitiveness of our advanced industries and R&D sector relative to China and other foreign nations."
"The world view on manufacturing and supply chain has changed drastically over the past several years, and certainly has applied more pressure on U.S. manufacturing to step up and compete. The Federal Government's Manufacturing Extension Partnership has certainly done its part, and NJMEP has helped lead the way," said John W. Kennedy, Chief Executive Officer of the New Jersey Manufacturing Extension Program. "However, without further support from our NJ Delegation led by Senator Bob Menendez and House Co-Sponsor Congresswoman Mikie Sherrill, we will remain severely handicapped by our lack of depth in our knowledge of ‘what we produce and where do we do so'. These leaders would not let that happen and have been tireless in pursuing this critical step. The ‘CHIPS and Science Act' and the National Supply Chain Database has now passed the Senate and heads to the House this week. It will be a game-changer on multiple levels."
"The CHIPS and Science Act will incentivize much-needed growth of domestic computer chip manufacturing and semiconductors and also provide New Jersey with an opportunity to continue its path of innovation, which ultimately results in more jobs and revenue for the state," said NJBIA President and CEO Michele Siekerka. "The increased production of these chips, which provide power and intelligence to modern electronics, household machines and automobiles, will help reduce supply chain challenges here in the US, reduce reliance on foreign manufacturers, while also bolstering national security. At the same time, it will help bring relief to consumers. We are pleased the House passed this Act."
Semiconductors are an essential component to all of our electronic devices. They run the computers we use to conduct business; the cell phones we use to communicate; the cars we use to get to work or take our children to school; the machines that diagnose and treat illnesses; the military systems that protect us; and the electronic devices we use to listen to music, watch movies, and play games. A strong semiconductor industry is critical to America's economic strength, national security, and global competitiveness.
The CHIPS and Science Act will lower prices for families and boost US competitiveness by:
Providing five-year grants for domestic semiconductor manufacturing and research as well as 5G wireless deployment.
Enacting a 25 percent tax credit for investments in semiconductor manufacturing facilities.
Funding a five-year reauthorization of the National Science Foundation, Commerce Department, and National Institutes of Standards and Technology to expand investments in research and development, including through:
The creation of a new technology, innovation, and partnerships directorate at the National Science Foundation; and
Technology research priorities for artificial intelligence, quantum information science, robotics, disaster prevention and mitigation, biotechnology, and cybersecurity.
Expanding funding for the Manufacturing Extension Partnership, which in New Jersey helps small- and mid-size manufacturers train workers, adopt new technologies, and strengthen their supply chains, and creating a new MEP Supply Chain Database to help manufacturers reduce shortages and keep prices low.
Investing in science, technology, engineering, and mathematics (STEM) education to train the future workforce needed to compete in the global economy.
Beyond this legislation, Rep. Sherrill has also worked on many legislative and administrative efforts to reduce prices for families and address supply chain bottlenecks. The Congresswoman voted for legislation to reduce fuel and food prices, co-sponsored legislation to strengthen the manufacturing supply chain and establish a Critical Supply Chains Commission, called for legislative action to ease supply chain bottlenecks, and urged the Department of Labor to prioritize training for truck drivers. Rep. Sherrill is also a member of the Defense Critical Supply Chain Task Force.
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