McCaul Statement on Launch of CHIPS Act Implementation
U.S. Congressman Michael McCaul (R-Texas) released the following statement on the launch of the first funding opportunity for the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act, legislation he introduced and championed in Congress.
“For years, I sounded the alarm about U.S. dependency on foreign nations for semiconductor chips — the brains behind nearly all modern technology, from toaster ovens to fighter jets,” said Rep. McCaul. “Today, I’m thrilled that we are moving one step closer to full implementation of my CHIPS Act. Bringing semiconductor manufacturing back to the U.S. will both stimulate our economy and strengthen our national security for years to come.”
At the recommendation of President Trump’s national security team, Rep. McCaul first introduced the CHIPS for America Act in 2020, alongside Representative Doris Matsui (D-Calif.) and Senators John Cornyn (R-Texas) and Mark Warner (D-Va.). The bill was signed into law in August of 2022.
Since the bill’s introduction, companies have already planned to invest hundreds of billions of private sector dollars in semiconductor fabrication facilities in states across the nation. Today’s Notice of Funding Opportunity officially begins the process for applicants to seek manufacturing incentives that complement and incentivize additional private investment in the domestic semiconductor industry.