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BOSTON
– Massachusetts Democratic Party Chair Steve
Kerrigan today released the following statement celebrating one year
since President Joe Biden signed the CHIPS and Science Act into
law:
“Manufacturing
is back in the United States because President Biden saw how it would
provide a boom to our economy and then acted with urgency,” said Chair
Kerrigan. “In the year since President Biden signed the CHIPS and Science
Act into law we have strengthened our competitiveness with China and
ensured our domestic supply chains are more stable than before. It is
clear that the Biden Harris administration’s economic plan is hard at
work and the American people are benefiting.”
Here’s how
President Biden’s CHIPS and Science Act is investing in
America and strengthening our economy:
· Bolstering
American leadership in semiconductor manufacturing: The
CHIPS and Science Act has unlocked $39 billion to
encourage American leadership in the semiconductor manufacturing industry
while creating tens of thousands of good-paying, union construction jobs
and thousands more high-skilled manufacturing jobs — as well as
catalyzing hundreds of billions in private investments.
· Encouraging
regional economic growth and development: The
CHIPS and Science Act has authorized $10 billion to
invest in regional innovation and technology hubs across the
country.
· Jumpstarting
our investments in industries of the future: In
addition to providing funding for semiconductor manufacturing incentives,
the CHIPS and Science Act has provided an additional $13.2
billion in American semiconductor research, development, and
workforce development — ensuring that Americans are well-equipped to work
in the industries of tomorrow.
· Providing
STEM opportunities to more of America to participate in good-paying
skilled jobs: To ensure more people from all backgrounds
across the country can benefit and participate in science, technology,
engineering, and mathematics (STEM) job opportunities, the CHIPS
and Science Actauthorizes new and expanded education and training in STEM
from K-12 to community college, undergraduate, and graduate education.
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