Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, issued the following statement ahead of this week’s expected Senate vote on a Motion to Proceed on the CHIPS Act of 2022 instead of moving forward with the U.S. Innovation and Competition Act (USICA), which includes funding for the CHIPS Act. The following statement can be attributed to TechNet President and CEO Linda Moore:
“Increasing America’s semiconductor chip production is a national priority. We’re pleased the Senate recognizes the urgency and is moving forward on the CHIPS Act. In 1990, America produced 37 percent of the world’s chips; today we produce only 12 percent. At the same time, manufacturing across all sectors has become much more dependent on chips to make the smart products we rely upon every day. Semiconductor chip production drives innovation, powers our economy, and enhances our national security. Increasing the domestic production of semiconductor chips will not only strengthen critical supply chains and reduce our reliance on foreign competitors, it will also create new, good-paying jobs for American workers.
“This is a good step, but it is only the first step in reclaiming America’s global leadership in innovation. More work is left to be done.
“Congress must work together to pass other provisions from USICA, including investing in regional technology hubs across the country, enhancing STEM education programs, and attracting and retaining the world’s best and brightest talent. With time ticking down on this year’s legislative calendar, Congress needs to act swiftly to pass these measures to strengthen American innovation and competitiveness and help us win the 21st century.”
This week, TechNet launched a six-figure advertising campaign in West Virginia, Mississippi, Indiana, Ohio, and Idaho urging Congress to pass the U.S. Innovation and Competition Act.
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. (Bloomberg, 2021)
In the 116th Congress, TechNet was quick to endorse the Endless Frontier Act, which served as the foundation for the U.S. Innovation and Competition Act (USICA).
TechNet applauded the Senate passage of USICA in 2021, and the passage of the America COMPETES Act in the House of Representatives earlier this year. The group has also sent a letter to Congressional leaders addressing several priorities to consider as the Senate and House of Representatives began work to reconcile the difference between USICA and the America COMPETES Act.