Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today applauded the signing of the CHIPS and Science Act of 2022 into law by President Biden. The following statement can be attributed to TechNet President and CEO Linda Moore:

“The CHIPS and Science Act of 2022 will help reclaim America’s global leadership in innovation. Over the past decade, the U.S. went from the most innovative country in the world to eleventh place, according to the latest Bloomberg Innovation Index. This bill is the bold action needed to reverse this alarming trend and usher in a new era of innovation and opportunity across the U.S.

“TechNet has long supported a bipartisan competitiveness package that counters the significant investments in innovation and technology made by our foreign rivals, including China, increases the domestic production of semiconductors, establishes regional technology hubs across the country, and enhances STEM education and high-tech workforce training programs.

“We are grateful to President Biden and leaders in both parties for ensuring the 21st century will be defined by American leadership in innovation.”


TechNet was an early supporter of this legislation and urged Congress to pass an innovation and competition package 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 and Science Act.
  • 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 CHIPS and Science Act.
  • TechNet applauded the Senate passage and the House passage of the CHIPS and Science Act.
  • TechNet ran a six-figure advertising campaign in West Virginia, Mississippi, Indiana, Ohio, and Idaho urging Congress to pass an innovation and global competitiveness package.