By Stacy M. Brown, NNPA Newswire Senior National Correspondent
President Biden on Wednesday, Aug. 9, highlighted the significant strides achieved on the anniversary of the bipartisan CHIPS and Science Act which aimed to rejuvenate America’s semiconductor leadership, fortify supply chains, bolster national security, and enhance competitiveness on the global stage.
“One year ago today, I signed into law the bipartisan CHIPS and Science Act to revitalize American leadership in semiconductors, strengthen our supply chains, protect our national security, and advance American competitiveness,” Biden emphasized.
Semiconductors, the bedrock of modern technology, were conceived in the United States. Yet, the White House said that America’s share in global production has dwindled from nearly 40% to just over 10%, rendering its economy vulnerable to international disruptions.
According to a White House Fact Sheet, the President’s comments resonated with his pledge to reinvent the landscape.
“The CHIPS and Science Act aims to change that,” Biden declared in a separate statement.
Administration officials said a pivotal facet of the “Bidenomics” agenda, the CHIPS and Science Act, has elicited tangible responses.
Corporations have pledged over $166 billion in investments toward domestic semiconductor manufacturing, spawning job opportunities across diverse communities.
Administration officials said that the heart of the Act, a $53 billion infusion into U.S. semiconductor manufacturing, research, development, and workforce initiatives, is pivotal in propelling the nation’s technological progress.
Further, the legislation mandated a 25% tax credit for capital investments in semiconductor manufacturing, which officials said has been instrumental in maintaining America’s position at the forefront of innovation.
“Semiconductors power everything from cell phones to cars to refrigerators,” Biden stated.
“But over time, the United States went from producing nearly 40% of the world’s chips to just over 10%, making our economy vulnerable to global supply chain disruptions.”
He continued:
“Over the coming months, my Administration will continue to implement this historic law, make sure American union workers, small businesses, and families benefit from investments spurred by the CHIPS and Science Act, and make America once again a leader in semiconductor manufacturing and less dependent on other countries for our electronics or clean energy supply chains.”
Administration officials reiterated that the White House’s unwavering dedication to revitalize the job market has been palpable.
Already, officials have established a set of five Workforce Hubs to foster pipelines for Americans to access well-compensated positions in the semiconductor industry and other sectors witnessing an upsurge due to Biden’s Investing in America agenda – a comprehensive strategy encompassing the CHIPS and Science Act, the Inflation Reduction Act, and the Bipartisan Infrastructure Law.
Additionally, the White House unveiled a nationwide Workforce Sprint, which is laser-focused on cultivating avenues into advanced manufacturing roles, including within the semiconductor realm.
Further, more than 50 community colleges have proactively introduced new or expanded semiconductor workforce programs.
The National Science Foundation also invested in the American semiconductor workforce through groundbreaking initiatives, encompassing the manufacturing workforce, backing researchers, and advancing curriculum development.
Strategic partnerships with major semiconductor and technology companies also have reinforced the endeavor, solidifying the nation’s position as a crucible of innovation and knowledge exchange.
The White House noted that applications by students for full-time jobs posted by semiconductor companies soared by an impressive 79% during the 2022–2023 academic year, in stark contrast to the 19% growth witnessed in other industries.
“Over the past year, agencies across the federal government have been developing and executing on programs established under CHIPS to encourage domestic semiconductor manufacturing, invest in research and development, and support supply chain resilience and workforce development,” the White House said.
