Rep. Lee Votes to Pass CHIPS Act to Lower Costs for Nevadans and Bolster U.S. Manufacturing

Statement

Today, Rep. Susie Lee (NV-03) voted to pass historic, bipartisan legislation to bolster U.S. manufacturing, support American innovation, and shore up our supply chains to lower costs for Nevada families. The CHIPS and Science Act will deliver a much-needed investment in America's global competitiveness -- creating thousands of jobs, improving our national security, and ending dependence on foreign manufacturers. Previously passed by the Senate, this legislation now heads to the President's desk to be signed into law.

"This pandemic fractured our supply chains, but the cracks were already there to begin with," said Rep. Lee. "For decades, American manufacturing has had to rely on China and other foreign countries for far too many critical components in the assembly line, but with the passage of this legislation, Congress is paving the way to make it all in America. This bill will turbocharge American innovation, end our dangerous dependence on foreign manufacturing, and ultimately lower costs for American families by making more affordable chips right here at home. I'm especially proud to have fought for increased funding for Nevada's research institutions -- funding that will bring a much-needed boost to our public universities and the many American businesses that rely upon a steady supply of advanced technologies."

A nationwide shortage of semiconductor chips has severely disrupted American manufacturing -- slowing down production across the board, spiking prices, and increasing dependence on China and other foreign economies. Only 12 percent of semiconductor chips are currently manufactured domestically -- a dramatic drop from 37 percent in the 1990s -- while foreign competitors are investing heavily to dominate this critical national security industry. Other nations have also begun to outpace the United States' research advantage -- threatening American preeminence in technology, research, and scientific innovation.

Additionally, Rep. Lee fought for the inclusion of a provision that will increase research funding for underserved states, like Nevada, by ensuring that at least 20 percent of National Science Foundation (NSF) research dollars and scholarships are set aside for states that have historically received a smaller share.

The bipartisan CHIPS and Science Act will reverse these dangerous trends, reasserting America's economic independence and scientific dominance. Thanks to the strong leadership of House Democrats, this legislation:

Lowers costs for American consumers -- by making more critical semiconductor components in America, helping end the shortage of chips that have driven up the price of everything from cars to consumer goods.
Creates 100,000 new good-paying jobs -- creates strong Davis-Bacon jobs building hi-tech manufacturing facilities here in America.
Ends our dangerous dependence on foreign manufacturers -- bringing critical semiconductor manufacturing back to America instead of overseas where it can be threatened by our adversaries.
Turbocharges American R&D -- powering America's preeminence in both basic research and next-generation technologies and ensuring that the technologies of the future are made here in America.
Diversifies and expands the innovation workforce -- broadening the pool of brainpower and talent so that we are embracing the full potential from all our communities, helping to diversify our STEM workforce and advancing regional technology hubs to ensure communities across the country can help in American research and development.
This legislation also includes strong guardrails to ensure that federal semiconductor investments go straight into Nevada's economy -- not corporate pockets or unfriendly nations. The CHIPS and Science Act will:

Prohibit companies from using CHIPS funding for stock buybacks or dividend payments.
Bar funding recipients from expanding semiconductor manufacturing in countries of concern.
Require strong oversight and tight Congressional control over the use of federal funds.

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