Business Roundtable Applauds Senate Passage of CHIPS Plus Act

Washington - Business Roundtable CEO Joshua Bolten today released the following statement on Senate passage of the CHIPS Plus Act:  

“Today’s Senate vote on the CHIPS Plus Act demonstrates that there is strong bipartisan support for shoring up America’s domestic semiconductor manufacturing and R&D capabilities, which is critical to our national security and innovation leadership. America is increasingly dependent on semiconductors and other critical technologies produced outside the U.S., leaving the country vulnerable to geopolitical events that disrupt supply. 

“By providing critical investments in and incentives for domestic semiconductor fabrication, the CHIPS Plus Act would unlock billions in private-sector investment. The combined investments unleashed by the Act would make U.S. advanced semiconductor manufacturing cost-competitive, safeguarding essential domestic supply chains. The legislation would also strengthen the economy by helping to maintain American innovation leadership and ensure the competitiveness of key U.S. industries, including the auto, aerospace, defense, information technology, manufacturing and healthcare industries.

“Business Roundtable applauds Senators on both sides of the aisle who voted ‘yes’ to advance this legislation. We call on the House to act without delay to pass this bipartisan bill and get it to the President’s desk to sign before the August recess.”

On Tuesday, Bolten sent a letter to Congress urging a vote in support of the legislation. To read the letter, click here.