Administration of Joseph R. Biden, Jr., 2022

July 27, 2022

Today the Senate passed an historic bill that will lower costs and create jobs. As Americans are worried about the state of the economy and the cost of living, the CHIPS bill is one answer: It will accelerate the manufacturing of semiconductors in America, lowering prices on everything from cars to dishwashers. It also will create jobs, good-paying jobs right here in the United States. It will mean more resilient American supply chains so we are never so reliant on foreign countries for the critical technologies that we need for American consumers and national security. I want to thank Senators in both parties for their hard work on this legislation.

For decades, some "experts" said we needed to give up on manufacturing in America. I never believed that. Manufacturing jobs are back. Thanks to this bill, we are going to have even more of them. The House should promptly pass it and send this bill to my desk.

NOTE: The statement referred to H.R. 4346.

Categories: Statements by the President : Legislation to promote U.S. semiconductor production, technological innovation, and advanced manufacturing, Senate passage.

Subjects: Business and industry : Domestic investment, promotion efforts; Business and industry

: Manufacturing industry :: Advanced manufacturing, promotion efforts; Business and industry : Manufacturing industry :: Improvement; Commerce, international : Global supply chain disruptions, efforts to address; Economy, national : Household income and wages; Employment and unemployment : Job creation and growth; Legislation, proposed : Legislation to promote U.S. Semiconductor production, technological innovation, and advanced manufacturing; Science and technology : Research and development.

DCPD Number: DCPD202200661.

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