Cornyn Praises Senate Passage of CHIPS Funding
Recently on the floor, I gave the following remarks after the Senate passed funding for my CHIPS for America Act, which will restore semiconductor manufacturing back to American soil. Excerpts of my remarks are below, and video can be found here.
This funding will help kick start the development of these microprocessors, these chips that go into everything from your cell phone, to the F-35, to the Javelin and Stinger missiles that we send to Ukraine to defend their country from Russian aggression.
This funding will help kick start domestic production of these semiconductors in a way that will prevent a vulnerability of our supply chain since 90 percent of those advanced semiconductors currently come from Asia.
One other benefit to this bill is that it could create roughly 185,000 jobs every year as these new facilities are constructed. Long-term, it could bring another 280,000 jobs on-line. Once these foundries are operational, they will supply made-in-America semiconductors that can be used on everything from smartphones, to cars, to airplanes, to missile defense systems.
The way we are going to compete with China and beat them is to out-innovate them, because no country in the world has better human capital, better brains, and a better system to encourage innovation.
It's important for the United States to be in the game and not be left behind.