Hoyer Notes Successes of CHIPS Act

(Credit: House Committee on Science and Technology 2023 via Hoyer Facebook page)

August 9, 2023, marked one year since the CHIPS and Science Act was signed into law. “When we enacted this landmark legislation last year, we set in motion a cascade of research and innovation by American businesses and entrepreneurs,” said Rep. Steny H. Hoyer on the law’s one-year anniversary.

The historic law will ensure that America continues to lead the world in developing and producing the advanced technologies that drive the global economy, the congressman said.

“Additionally, by strengthening our supply chains, this law makes our economy more resilient to disruptions – such as the war in Ukraine and the COVID-19 pandemic – that drive up consumer costs for Americans. The CHIPS and Science Act will keep delivering results in the coming months, generating good-paying jobs, spurring private investment in key industries, and opening doors of opportunity for entrepreneurs, workers, and families to Make It In America,” he said.

Thanks in large part to the CHIPS and Science Act, the American economy has added 800,000 manufacturing jobs since President Biden took office, Rep. Hoyer (D-MD) said.

“In the same period, private companies have invested $231 billion into domestic semiconductor manufacturing. Additionally, the CHIPS and Science Act and the rest of Democrats’ Investing in America agenda have helped bring down inflation to a two-year low,” he said.

Congressman Hoyer serves as the chair of the Regional Leadership Council.

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For more information about Rep. Steny H. Hoyer, visit his Leader member page.