Majority Leader Schumer Floor Remarks On A New Report On Tripling US Chips Manufacturing Capacity Following Passage Of The Landmark CHIPS And Science Act

Washington, D.C. - Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the tremendous impact of the bipartisan CHIPS and Science Act as a new report shows that the United States will triple in domestic semiconductor manufacturing capacity in less than a decade. Below are Senator Schumer's remarks, which can also be viewed here:

Yesterday, the New York Times reported a remarkable statistic from a recent study on the semiconductor industry: thanks to funding provided by the CHIPS and Science Act, "the United States will triple its domestic Chips manufacturing capacity by 2032, the largest increase in the world."

The report goes on: had Congress not passed CHIPS and Science, America's share of global chip production would have kept slipping. But instead [production is] expected to triple - to triple - in less than a decade.

This report great news for American jobs and America's economy and is precisely what we envisioned in the Senate as we worked on the bipartisan CHIPS and Science bill. With help from the federal government, communities in New York and Arizona and Ohio and Texas and Montana will become the next hubs of tech innovation.

We're seeing growth happen right now, in front of our eyes: Micron is expanding, Samsung is expanding, Intel is expanding, BAE systems is expanding, and more. All of these companies are expanding in the United States thanks to the CHIPS Act.

When I began working on the Endless Frontier Act years ago, this was the hope: a new wave of tech jobs, a new wave of scientific research, and revival of federal investment in these areas. This report on the impact of CHIPS and Science shows America is on the right track, and our confidence in passing this legislation is vindicated.

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