The CHIPS Act for America begins a new chapter of innovation and R&D in the United States to reverse a decades-long decline, Secretary of Commerce Gina Raimondo said recently.
Making remarks at a Sept. 6 White House briefing, Raimondo commented that the legislation will boost the innovation ecosystem and allow the United States to again lead the world, a Department of Commerce release reported.
“Thanks to President [Joe] Biden’s leadership and the bipartisan work in Congress, we have an incredible opportunity to unleash the next generation of American innovation, protect our national security, and preserve our global economic competitiveness,” Raimondo said in the briefing.
The funding for the CHIPS Act will ensure that the U.S. never finds its national security interests compromised or its key industries immobilized due to an inability to produce essential semiconductors at home.
Raimondo noted that the legislation will revitalize an atrophied innovation ecosystem.
“We will add rocket fuel to our global competitiveness, ensuring that America maintains its status as a leader for generations to come,” she said in the briefing. “And by investing in America’s greatest strengths – our unrivaled innovation and our diversity of talent – President Biden has outlined a vision for one of the biggest, boldest projects America has undertaken in the last 80 years.”
