Pallone on One Year Anniversary of the CHIPS and Science Act

Energy and Commerce Committee Ranking Member Frank Pallone, Jr. (D-NJ) released the following statement today marking one year since President Biden signed the CHIPS and Science Act into law:

“In the year since President Biden signed the CHIPS and Science Act into law, its benefits are already being felt nationwide. 

“The law’s transformational investment will create new economic opportunities, expand the middle class, and lower costs for consumers. It will strengthen America’s competitiveness and help end our reliance on other countries for semiconductors, which are key components in consumer goods including cars, electronics, and home appliances, as well as defense systems.

“Over the last year, the CHIPS and Science Act has helped spur over $166 billion of private sector investment into semiconductor development and fabrication. More than 50 community colleges have announced new or expanded semiconductor workforce programs and student applications to full-time jobs posted by semiconductor companies are up 79 percent. This is a major part of our ongoing efforts to revitalize American manufacturing.

“I look forward to continuing to work with the Biden Administration to implement this law in order to grow our economy, create good-paying jobs, strengthen American competitiveness, and lower costs for American families.”

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