Secretary of Commerce Gina Raimondo said the signing of the CHIPS and Science Act could not have come at a more urgent moment.
The overreliance of the nation on foreign manufacturers of semiconductors is a serious vulnerability, she said, according to a press release issued on Aug. 9.
“Today, President Biden signed into law a historic investment that will help revitalize the U.S. domestic manufacturing economy, spur research and development in critical industries, and enable us to continue outcompeting and out-innovating the rest of the world,” Raimondo said, according to the release.
She applauded Democrat and Republic members of Congress for getting the law to the President’s desk, particularly House Speaker Nancy Pelosi (D-CA), Senate Majority Leader Chuck Schumer (D-NY) and Senate Minority leader Mitch McConnell (R-KY) for prioritizing it, the release reported.
“Chairs Cantwell, Johnson, Pallone, Ranking Members Wicker and McCaul, as well as Senators Warner, Cornyn, Kelly, Young and Representative Matsui all played crucial roles in ensuring this bill’s provisions made our country stronger and more competitive,” Raimondo said, according to the release.
President Biden’s steadfast leadership and commitment to workers and manufacturing in the United States made passage of the law possible, she said, the release reported.
“Today, we’re sending a clear signal to the world that we are serious about rebuilding our domestic manufacturing industry and leading the world in science and innovation for decades to come,” Raimondo said, according to the release. “I’m excited to get to work doing exactly that.”
