Rep. Tonko hails CHIPS and Science Act
Democratic Congressman Paul Tonko was in Albany Sunday touting the CHIPS and Science Act, which is now on President Biden’s desk.
The nation's semiconductor industry and the Capital Region are set to get a huge boost from the bill Tonko heralds as a measure that will raise manufacturing to a new level.
"American economic strength has always been built on consistent investments in her people, in innovation, and institutions," said Tonko. "However, in recent years, we have neglected to make, I believe, the very certain technological development a priority for our present and future economy. In particular, America's share of global semiconductor production has plummeted over the last couple of decades, with 37% of the world's share manufactured here in the U.S. in 1990. And today, that has slipped to just 12%. So that is part of the supply crisis situation that impacts all of manufacturing."
The Democrat from the 20th district says failure to produce enough chips at home has left the United States vulnerable to shortages in global supply chains. He says the package will bolster domestic supply chains and create jobs in New York and nationwide.
"We'll deliver the largest five-year investment in public R&D in our nation's history, including $52 billion toward a semiconductor research effort and production," Tonko said. "I'm especially proud of the House of Representatives' contributions to this legislation. We weren't just going to provide for the resources for the industry. We made certain that it included provisions that put in place financial guardrails to make certain that American dollars will only benefit American industry and workers. And at the same time, these investments will promote diversity, equity and inclusion our nation's STEM workforce."
Tonko says the CHIPS Act will lower the prices of everything from cars to consumer goods while creating 100,000 new "good paying" jobs. He vows to continue to work to make certain the momentum is there to establish the National Semiconductor Technology Center in the Capital Region, a pledge also made by Senate Majority Leader Chuck Schumer of New York.
"Think of it," said Tonko. "We have the manufacturing to one of the greatest degrees here in this region, with GlobalFoundries. We have the research efforts being done at Nanosciences campus. And so it's a logical, continued growth here for the industry, by having that research center here. Furthermore, as the home of the United States only major semiconductor manufacturer, right now, GlobalFoundries, the Capital Region has one of the nation's fastest growing electronics industries. And with these investments, we will continue to be a leader in restoring America's competitiveness, and its technological independence."
President Biden is expected to sign the bill.