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Majority Leader Schumer Floor Remarks On The Historic Investments In American Manufacturing Following The Enactment Of The CHIPS And Science Act

Washington, D.C.   Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the impact of the CHIPS and Science Act ahead of President Biden’s event in Arizona touting a major new investment in American manufacturing. Below are Senator Schumer’s remarks, which can also be viewed here:

Today, President Biden will be in Arizona to visit the construction site for what will become one of the largest chip manufacturing plants in America.

What was originally announced to be a $12 billion investment will now be a $40 billion project, with the first chip fab set to open a year from now.

This is one of the highly-visible examples of how the bipartisan CHIPS and Science Act is already paying dividends for the economy, for job-creators, and for American workers. It’s also a good sign for a new age of chip manufacturing in this country.

We used to lead the world in making microchips, and thanks to the CHIPS and Science Act we are already seeing the types of investments that will make America a major hub – a major hub, hopefully – for chip manufacturing once again.

The construction site that President Biden visits today is just one example of some very exciting activity happening all across the country.

In my home state of New York, Micron has pledged up to a $100 billion over the next two decades to build the state-of-the-art semiconductor fabs in New York. Another major company, GlobalFoundries, has announced they’ll build a second fab in the Albany region of upstate New York.

Of course the benefits extend across America. We’re seeing chipmakers announce multi-billion dollar investments in states ranging from Ohio, to Colorado, to Texas, to Arizona—and on the Arizona one Mark Kelly did a great job of championing— to Idaho. In nearly all cases, executives have explicitly cited the passage of CHIPS and Science as a major factor in their decision to build big in America.

Though these many investments range in size and type, the bottom line in CHIPS and Science is this: more American jobs, increased American manufacturing, a stronger American economy in the long run. This bill is about innovating and building the future in the U.S., not in the hands of the Chinese Communist Party.

As always, I thank my colleagues from both sides of the aisle who pushed this bill over the finish line. We’re already reaping the immense benefits and there will be many more to come.