US Senate passes Securing Semiconductor Supply Chains Act
A bill designed to attract overseas investment to the US semiconductor manufacturing sector has made it through the Senate without opposition.
The Securing Semiconductor Supply Chains Act was brought by senators Rick Scott and Gary Peters. They introduced the bill in an attempt to address what they see as flaws in the US Chips and Science Act.
They argue that limiting imports and exports with China leaves the US semiconductor industry vulnerable to supply shortages, and that more investment is needed to boost domestic supply chains.
“As Communist China’s influence in the semiconductor market continues to grow and some corporations in the industry put profits over American national security interests, it is beyond time to boost domestic production,” said Senator Rick Scott. “The Chips and Science Act did nothing to strengthen American manufacturers while propping up business in Communist China. That is unacceptable. Now more than ever, we must be laser focused on producing American-made semiconductors and the Securing Semiconductor Supply Chains Act is a good place to start.”
The SelectUSA program was established in 2011 to improve federal efforts to attract job-creating investments. The Securing Semiconductor Supply Chains Act aims to direct the SelectUSA program to engage with state-level economic development organisations – specifically about how they are attracting foreign investment in semiconductor manufacturing.
Companion legislation led by Representatives Greg Pence and Anna Eshoo was passed by the US House of Representatives in July.
