Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today applauded the final passage of the CHIPS Acts of 2022 in the U.S. Senate. The following statement can be attributed to TechNet President and CEO Linda Moore:

“TechNet has supported this legislation since it was first introduced last Congress as the Endless Frontier Act. Throughout its numerous versions and name changes, we’ve led the charge, urging Congress to pass an innovation and competition package every step of the way. This is the bold action needed to counter investments in innovation made by our foreign competitors, including China, and will help us reclaim America’s global leadership in innovation.

“Simply put: The CHIPS Act of 2022 is a historic, bipartisan investment that will ensure the U.S. wins the 21st century with the newest, life-changing technologies being developed and made in America. We applaud Senators from both parties who worked collaboratively to pass this legislation to improve our domestic supply chains, create good-paying jobs in communities across America, and strengthen our workforce.

“We congratulate Majority Leader Schumer and Senator Young on this accomplishment and thank them for their leadership over the past three years to get this vital legislation across the finish line. We now urge the House of Representatives to pass the bill as soon as possible so it can be signed by President Biden.”

BACKGROUND:

TechNet was an early supporter of this legislation and has urged Congress to pass an innovation and competition package over the past three years:

  • In the 116th Congress, TechNet was quick to endorse the Endless Frontier Act, which served as the foundation for USICA and the CHIPS Act of 2022.
  • TechNet applauded the Senate passage of USICA in 2021, and the introduction and passage of the America COMPETES Act in the House of Representatives earlier this year.
  • TechNet sent a letter to Congressional leaders addressing several priorities to consider as the Senate and House of Representatives began work to reconcile the differences between USICA and the America COMPETES Act.
  • As the Senate considered moving forward with funding for domestic semiconductor production only, TechNet encouraged the Senate to include provisions like regional technology hubs and enhanced STEM education programs. The Senate has since included many of the provisions TechNet advocated for in the current version of the CHIPS Act of 2022.
  • Earlier this month, TechNet ran a six-figure advertising campaign in West Virginia, Mississippi, Indiana, Ohio, and Idaho urging Congress to pass an innovation and global competitiveness package.