Chicago, IL– Democratic Party of Illinois Chair Lisa Hernandez released the following statement celebrating one year since President Biden signed the CHIPS and Science Act into law:
“One year since President Biden signed the CHIPS and Science Act into law, domestic manufacturing is booming, jobs are coming back, and America’s economy is leading on the world stage. Despite Republicans including Mike Bost, Darin LaHood, and Mary Miller opposing the bipartisan legislation, President Biden and Democratic leadership are helping us supercharge our competitiveness with China, strengthen our supply chains, and invest in the industries of the future. That’s Bidenomics in action,” said Democratic Party of Illinois Chair Lisa Hernandez.
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 Act authorizes new and expanded education and training in STEM from K-12 to community college, undergraduate, and graduate education.