When the Bloomberg Innovation Index debuted in 2013, the U.S. ranked first among 50 countries. In the latest index, the U.S. has fallen to 11th place. TechNet believes failure to take action will result in our continued decline in science and technology superiority as foreign competitors, especially China, dedicate resources to the future of innovation.
The CHIPS Act of 2022, which contains several provisions from the U.S. Innovation and Competition Act (USICA), aims to increase the domestic production of semiconductors, invest in regional technology hubs across the country, and enhance STEM education and high-tech workforce training programs.
The Senators featured in the video below agree.
TechNet ran a multi-state advertising campaign urging its passage.
TechNet was an early supporter of this legislation and has urged Congress to pass the bill every step of the way:
- In the 116th Congress, TechNet was quick to endorse the Endless Frontier Act, which served as the foundation for USICA and the CHIPS Act of 2022.
- TechNet applauded the Senate passage of USICA in 2021, and the introduction and passage of the America COMPETES Act in the House of Representatives earlier this year.
- TechNet sent a letter to Congressional leaders addressing several priorities to consider as the Senate and House of Representatives began work to reconcile the differences between USICA and the America COMPETES Act.
- As the Senate considered moving forward with funding for domestic semiconductor production only, TechNet encouraged the Senate to include provisions like regional technology hubs and enhanced STEM education programs. The Senate has since included many of the provisions TechNet advocated for in the current version of the CHIPS Act of 2022.
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