Energy and Commerce Chairman Attends Bill Signing of Legislation that Invests $52 billion to Ensure More Semiconductors Are Built Right Here in the United States
Washington, DC – Energy and Commerce Committee Chairman Frank Pallone, Jr. (NJ-06) issued the following statement after President Biden signed H.R. 4346, the CHIPS and Science Act of 2022, into law, which passed the House last month. The bill will bolster semiconductor manufacturing, boost resilience in U.S. supply chains, create good-paying American jobs, and lower costs for families in the United States. New Jersey could benefit from this investment in chip manufacturing, especially the New Jersey Innovation and Technology Hub in New Brunswick.
“By signing the CHIPS and Science Act into law today, President Biden is lowering costs for consumers, creating 100,000 good paying American jobs, and ending our dangerous dependence on foreign manufacturers of critical goods. It’s a pleasure to join him today for this bill signing, which was a priority of the Democratic Congress.
“Over the past three decades, America’s share of semiconductor production has plummeted, jeopardizing both our national security and economic welfare. This new law appropriates over $52 billion to ensure more semiconductors are produced right here in the United States – ending our reliance on other countries and lowering costs for consumers for automobiles, consumer electronics, home appliances, and other goods. My home state of New Jersey has a well-known reputation for research and manufacturing. There’s simply no reason why we can’t invest in American workers, innovation, and manufacturing.
“This legislation invests $1.5 billion in the Public Wireless Supply Chain Innovation Fund for the deployment and promotion of Open Radio Access Network, or Open RAN, 5G networks. This investment will help bring diversity and innovation to wireless supply chains while also countering the spread of harmful network equipment from companies backed by adversaries like Communist China-backed Huawei.
“I’m pleased these two key provisions came from my Committee and look forward to seeing them bolster our economy and reduce costs for consumers.”
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