Reps. Eshoo, Pence Introduce Bipartisan Bill to Attract Investment in Domestic Semiconductors
WASHINGTON, D.C. – Today U.S. Reps. Anna G. Eshoo (D-CA-18) and Greg Pence (R-IN-06) introduced bipartisan, bicameral legislation to further bolster American semiconductor production and supply chains. The Securing Semiconductor Supply Chains Act directs the Department of Commerce’s SelectUSA program to work with state-level economic development organizations to develop strategies to attract foreign direct investment in U.S. semiconductor manufacturers and supply chains.
“Disruptions in the semiconductor supply chain have impacted nearly every aspect of our economy and the daily lives of Americans,” said Congresswoman Eshoo. “The Securing Semiconductor Supply Chains Act strengthens semiconductor supply chains by requiring federal and state government programs to develop strategies to attract investment in semiconductor manufacturing. I’m proud to introduce this bicameral and bipartisan legislation to onshore chip production and ensure the U.S. maintains its global technological leadership."
“Our Country has had to learn the hard way that relying on foreign supply chains jeopardizes our economic and national security. There are other nations who know this, wanting to outpace our economy and chip away at our hold as a global superpower, and take advantage of this fact. America cannot be caught off-guard again, and this legislation would address that shortcoming,” said Congressman Pence. “My greatest priority in Congress has been fighting for policies that have the opportunity to bring jobs here to the U.S. and boost the economy – and this legislation would be especially advantageous to Hoosiers in Indiana’s Sixth Congressional District.”
The SelectUSA program was established to promote and facilitate business investment in the U.S. SelectUSA services include market research, investment counseling, facilitating meetings with state economic development organizations, educational and networking events, and other assistance.
The Securing Semiconductor Supply Chains Act requires SelectUSA to determine how state-level economic development organizations are attracting foreign direct investment to onshore semiconductor activities and how the SelectUSA program can partner with state-level economic development organizations and federal agencies to boost foreign direct investment in semiconductors.
U.S. Senators Gary Peters (D-Mich.) and Rick Scott (R-Fl.) introduced companion legislation to the Securing Semiconductor Supply Chains Act in the Senate.