MATSUI, MCCAUL, HOLD BRIEFING WITH SECRETARY RAIMONDO ON ROLLOUT OF CHIPS AND SCIENCE ACT

WASHINGTON, D.C. - Today, Congresswoman Doris Matsui (D-CA), Ranking Member of the Communications and Technology Subcommittee and Congressman Michael McCaul (R-TX), Chairman of the Foreign Affairs Committee,co-authors of the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act and co-chairs of the Congressional High Tech Caucus, issued the following statement after holding a closed door Member briefing with U.S. Secretary of Commerce Gina Raimondo on the rollout of the CHIPS and Science Act.

"We introduced the original CHIPS Act nearly three years ago to solve what we identified as a national security and economic threat," said the lawmakers. "The CHIPS and Science Act is a generational investment to secure our access to this critical technology and reassert American leadership and innovation across the board. The coming months will have lasting implications for job creation, economic competitiveness, and global leadership. We have already seen the transformative impact of this legislation. Companies are investing billions in new, high-tech manufacturing sites across the country that will keep America competitive in the industries of tomorrow. We must continue to act with urgency and push to ensure we maximize this bill's full potential."

"Thanks to the leadership of Rep. Matsui, Rep. McCaul, and the High Tech Caucus, we have an opportunity to unleash the next generation of American innovation, protect our national security, and preserve our global economic competitiveness as we implement the historic CHIPS and Science Act," said U.S. Secretary of Commerce Gina Raimondo.

Congresswoman Matsui and Congressman McCaul introduced the original CHIPS Act in June 2020 alongside Senators John Cornyn (R-TX) and Mark Warner (D-VA). They successfully included an amendment based on the CHIPS Act as part of the FY21 National Defense Authorization Act (NDAA)to enable the building and modernization of semiconductor manufacturing facilities in America. They also led effortsto secure this funding through the CHIPS and Science Act.

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