Washington, DC – Today Congresswoman Dina Titus (NV-01), a member of the Conference Committee for the COMPETES Act, issued the following statement after H.R. 4346, the CHIPS and Science Act of 2022, passed in the U.S. House of Representatives. The bill passed in the House with a bipartisan vote of 243-187.

“I was honored to serve on the conference committee while talks were ongoing for this important piece of legislation and I’m pleased that it has passed,” said Rep. Titus. “This bill is key to promoting the U.S. semiconductor industry, advancing our manufacturing and supply chains, supercharging R&D, and ensuring we can better compete in the global marketplace.

“Importantly, it will provide $52 billion in subsidies to domestic semiconductor manufacturers and invest billions in technology innovation. It also includes some $100 billion in authorizations over five years for programs to expand the National Science Foundation’s research and to establish regional technology hubs to support start-ups in areas of the country that have not traditionally drawn big funding for tech.

“This is a vital piece of legislation as semiconductor chips are used in everything from vehicles, cellphones, medical equipment, and military weapons to slot machines in Las Vegas casinos. This bill is not just about making the U.S. more competitive globally but also bolstering our vital industries domestically and creating good-paying jobs.

“I look forward to seeing the real benefits of this legislation once it is signed into law by the President.”

Background

The bipartisan CHIPS and Science Act will reassert the U.S.’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 the U.S., helping end the shortage of chips that have driven up the price of everything from cars to medical equipment.
• Creates 100,000 new good-paying jobs. The bill creates strong Davis-Bacon jobs building hi-tech manufacturing facilities here in the U.S.
• Ends our dangerous dependence on foreign manufacturers by bringing critical semiconductor manufacturing back to the U.S. instead of overseas where supply can be threatened by our adversaries.
• Turbocharges American R&D by powering U.S. preeminence in both basic research and next-generation technologies and ensuring that the technologies of the future are made here in the U.S.
• Diversifies and expands the innovation workforce by broadening the pool of brainpower and talent so that we are embracing the full potential from all of 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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