Today, following House’s passage of the America COMPETES Act to rebuild the domestic semiconductor manufacturing industry, strengthen supply chains, and invest in critical research, U.S. Secretary of Commerce Gina M. Raimondo released the following statement:

I want to thank the House of Representatives for passing the America COMPETES Act today. This bill is essential to our supply chains, our economy, and our workers, and will unleash the next generation of innovation and manufacturing in the United States. Crucially, both the America COMPETES Act and the Senate’s U.S. Innovation and Competition Act would invest $52 billion in domestic semiconductor production - funding that will help lower costs for families, create good-paying manufacturing jobs, and ensure we’re making technology crucial to our national and economic security, right here at home.

Now that separate versions of the bill have passed both the House and the Senate, I’m urging Congress to move quickly to begin negotiations and work out the differences between the bills, focus on areas of common agreement, and get a final version to President Biden’s desk for his signature. Getting this bill signed into law will create good jobs, rebuild American manufacturing in every corner of the country, strengthen and reshore our supply chains, and allow our industries to outcompete China and the rest of the world in the 21^st century. Business leaders, labor unions, and national security officials from both parties have called on Congress to come together and get this done. Lawmakers from both chambers and all sides of the political spectrum understand the urgent need to get legislation to the President’s desk. I look forward to continuing to work with them to deliver this win for the American people.