United States Resources Tender

Today on the floor U.S. Senator John Cornyn R-TX discussed the funding for his Creating Helpful Incentives to Produce Semiconductors CHIPS for America Act that passed the Senate this evening as part of the U.S. Innovation and Competition Act. Excerpts of Sen. Cornyns remarks are below. The CHIPS for America Act passed last year as a part of the National Defense Authorization Act but was left unfunded.For everything from national security to economic policy theres a clear and urgent need to reorient the way our country views and responds to the challenge from China.The cornerstone of this legislation of course is funding to bolster domestic semiconductor manufacturing so the United States can compete with China and secure some of our most critical supply chains.Senator Warner the Senior Senator from Virginia and I introduced the CHIPS For America Act last year to shore up domestic semiconductor manufacturing and reduce our reliance on other countries for one of our most critical products.The vast majority of our colleagues agreed that this was an important and critical task. It was carefully crafted in a months-long bipartisan bicameral negotiation and in fact this legislation was adopted as an amendment to last years Defense Authorization Act by a vote of 96-4. Now though it falls to us to fund what we authorized.Its important that we send a clear and distinct and unequivocal message to our competitors and rivals.Republicans and Democrats have worked together to bolster domestic semiconductor manufacturing and to confront one of our biggest looming threats from China.