The passage of the CHIPS and Science Act of 2022 marks the conclusion of a years-long effort to boost federal investment in innovation across America. We applaud Congress for taking the bold action needed to reclaim America’s global leadership in innovation.
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.
The CHIPS and Science Act of 2022 will usher in a new era of exploration and innovation across the U.S. The bill will 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 bill will power the U.S. economy forward and counter investments being made by our foreign rivals, including China.
The CHIPS and Science Act of 2022 will help the U.S. win the 21st century and spur investments in U.S. manufacturing that had been on hold until the bill passed.
Prior to the bill’s passage, TechNet ran a multi-state advertising campaign urging Congress to take action.
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.
- TechNet applauded the passage of the CHIPS and Science Act in the Senate and in the House.
TechNet now urges President Biden to sign the CHIPS and Science Act into law as soon as possible.