Before leaving town for Thanksgiving, Sens. Mark Warner, D-Va., and John Cornyn, R-Texas, joined members of the Problem Solvers Caucus to call for fully funding the CHIPS for America Act, an initiative intended to increase semiconductor production in the United States.

Their message was that as the semiconductor shortages persist and manufacturers remain uncertain of future U.S. policy regarding production, Congress must act promptly to fund the Act, which was enacted into law in the 2021 National Defense Authorization Act.

“There’s probably no greater vulnerability in the United States from a national security and economic perspective than our dependency on supply chains of semiconductors that are made outside of the country, primarily Asia, and then shipped here to the United States,” Cornyn said during a press briefing last week.

“This is an example of how we solve problems, we identify problems, vulnerabilities, things that we need to do, and we get ‘em done. And we’re about halfway there and we’re looking forward to working with our friends in the House, the Problem Solvers Caucus, to get this over the finish line,” he said.

Joining the senators in a crowded conference room steps from the Capitol Visitors Center were Problem Solvers Caucus co-chairs Josh Gottheimer, D-N.J. and Brian Fitzpatrick, R-Penn., as well as Reps. John Katko,R-N.Y., Haley Stevens, D-Mich., Dan Meuser, R-Penn., Elissa Slotkin, D-Mich., and Debbie Dingell, D-Mich.

All maintained that funding the CHIPS for America Act would invigorate the economy, help secure the nation’s supply chain for a critical commodity, and jumpstart semiconductor manufacturing in communities hungry for economic development opportunities in the realm of manufacturing and advanced research.

Warner noted that in recent years, the United States has gone from manufacturing about 37% of the semiconductors produced in the world to about 12% today, and he said reversing the downward trend won’t be easy.

He estimated the cost of building a single new fabrication facility would likely top $10 billion and that private backers of such projects would surely face at least a few years of operating losses before their operations move into the black.

https://www.thewellnews.com/national-security/problem-solvers-senators-renew-call-for-fully-funding-chips-act/?amp=1