[Congressional Record Volume 169, Number 51 (Tuesday, March 21, 2023)]
[Senate]
[Page S840]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         CHIPS AND SCIENCE ACT

  Mr. SCHUMER. Mr. President, on CHIPS, today, the administration 
released a number of proposed guardrails that will ensure the Chinese 
Communist Party does not benefit from our efforts to increase chip 
production here at home.
  We first put these guardrails into the CHIPS and Science bill, which 
we enacted into law last summer--something we are very proud of and 
that I am very proud of. We put them in because we didn't want to see 
companies getting help to expand operations in America and then using 
other dollars to expand operations in countries like China. I am glad 
the administration is implementing this law with good, strong 
guidelines--with good, strong regulations.
  Specifically, the Department of Commerce and the Treasury have 
proposed new restrictions, which the Senate approved through the CHIPS 
and Science Act, on the amount companies receiving CHIPS money can 
invest in projects located within countries of concern. That includes 
Russia and China. Abusing CHIPS funding to expand projects in China-
based markets would be self-defeating, and it would endanger our 
national security. This is what we passed into law in the CHIPS bill, 
and this proposed rule will implement it in a strong way. If we are 
serious about investing in domestic chip production, the last thing we 
should be doing is allowing companies to take CHIPS dollars and use 
them to build facilities in China that benefit the CCP.
  I applaud the administration. I applaud our great Secretary of 
Commerce for this proposed rule, which I called on them to fast-track 
weeks ago, and I am glad they are doing it.
  I am also glad this week that the administration is rolling out 
proposed guidance for implementing the CHIPS investment tax credit--the 
ITC. I fought relentlessly to get this tax credit into CHIPS and 
Science. We knew, without it, our new factories here in America that 
are going to make advanced computer chips would not grow as quickly and 
as well.
  I want to thank Senators Wyden, Brown, Casey, Tester, Kelly, Warner, 
Cantwell, and many others for joining me in this effort.
  As I have said many times, President Xi and the Chinese Communist 
Party are on an all-out campaign to replace the United States as the 
global force in the 21st century. Look no further than the headlines 
today. President Xi is being wined and dined by Vladimir Putin, leaving 
no doubt that the CCP is rooting for Putin to prevail in Ukraine.
  But it is not just on military matters that China wants to dominate. 
For decades, the CCP has rapaciously stolen American, European, and 
Japanese technologies and intellectual property. The CHIPS and Science 
Act was designed to halt this bleeding and bring semiconductor jobs 
back to our shores. But, if that is going to happen, we can't allow 
taxpayer dollars to expand projects in China to begin with. So I 
applaud the administration for introducing this proposed rule today.

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