[Congressional Record Volume 168, Number 120 (Wednesday, July 20, 2022)]
[Senate]
[Page S3510]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               CHIPS Act

  Mr. WYDEN. Mr. President, our economy is as resilient as any in the 
world. At the same time, we know that it is important to always look to 
modernize key economic policies, particularly as it relates to 
fundamental questions of research and development and also production 
and manufacturing, in order to create high-skilled, high-wage jobs from 
sea to shining sea.
  Now, I come from a State that is a leader in technological 
innovation, not just for our country but for the world. Oregonians know 
how important it is to invest and make sure that the United States 
stays at the forefront of technological breakthroughs.
  The reality is, when it comes to chips, we have some important work 
to do, so I want to take just a few minutes to describe why it is so 
essential for the Congress to get this legislation done now.
  First of all, our bill is going to bring down costs for consumers and 
businesses. Everybody knows there are chips in laptops, phones, and 
cars, but there are also chips in refrigerators and even vacuum 
cleaners, as we saw at Stark's in Southeast Portland recently.
  From the time you pick your head up off your pillow until the time 
you go to bed at night, you are interacting with chips. That is what 
made it such an economic nightmare when the pandemic hit and the supply 
of semiconductors got cut short. Prices for a host of important goods 
went into the stratosphere. Some products weren't available at all. 
Factories in America went dark because they couldn't get component 
parts. Anybody who has had to buy a car in the last few years probably 
can tell you a horror story about the buying process.
  This legislation is going to go a long way to increasing the 
production and manufacturing of chips in this country and bringing down 
consumer costs and addressing the shortages by increasing the supply 
here in America.
  That leads to my second point. Investing in domestic chip production 
is going to create a huge, huge number of good-paying jobs. Oregonians 
know well that the jobs at these chipmakers can become an economic fuel 
for a whole region in the country. We need to guarantee that investment 
happens here in America instead of overseas.
  Third, the bill is going to help shore up our national security and 
our economic security. With respect to the economy, when there aren't 
enough chips to keep our factories running and our shelves stocked, 
workers and the American economic system suffer.
  And when the vast majority of chips are produced in just a few sites 
overseas, there is a big risk that the United States won't be able to 
get its hands on the chips needed to keep the American people safe in a 
conflict.
  I am a member of the Senate Select Committee on Intelligence. I can't 
get involved in classified matters that I have some access to. But I 
want everybody in the Senate to know this is a top-tier national 
security issue. Producing more chips here at home means that our 
economy will be more resilient for the days ahead and our country will 
be safer and more secure.
  One last comment in this short statement. The Senate passed a larger 
version of this bill last year, and it included a trade package that 
Senator Crapo and I, our colleague from Idaho, worked together on. It 
focused on cracking down on China's worst trade abuses, including the 
horrendous practice of forced labor, including proposals that went 
after authoritarian censorship overseas and a growing danger of freedom 
of speech here in America.
  I also sought to update the system for job training and workers' 
support, so key to our workers having access to high-skill, high-wage 
jobs. That trade package is not included in this slimmed-down version 
of the CHIPS legislation. I can promise, however, as chairman of the 
Finance Committee, we will keep working on these issues.
  Cracking down on trade cheats, fighting for investments and jobs in 
America is at the top of the priority list for the Finance Committee. I 
look forward to continuing our work on those issues in the weeks and 
months ahead.
  This legislation is long overdue. It is a serious, fresh commitment 
to innovation in America. I am proud that I was able to lead the effort 
in the Senate Finance Committee to focus on producing and manufacturing 
more semiconductors in America. It is hugely important for my State, 
which really does research and development for the entire country. But 
it is important for all Americans every single day because, from the 
time you get up in the morning until the time you go to bed at night, 
you are using these chips. This is, in my view, the first step of many 
that we have to take to promote more innovation and the path to 
creating high-skill and high-wage jobs in America.
  Let's take the first step with this important legislation. Pass this 
bill. I urge my colleagues to vote for it later when we get to the 
final vote.
  I yield the floor.
  The PRESIDING OFFICER. The Senator from Wyoming.