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Innovation and Competition Act (USICA), includes $52 billion in CHIPS Act grant resources to support domestic semiconductor development and manufacturing. Semiconductors are simply a vital technology that supports so many other industries, and it would be irresponsible of Washington DC to put Missouri’s manufacturers in a position to have to operate at the whim and demands of heavily-subsidized foreign chip makers.įortunately, there are two proposals in Congress that aim to fix this problem. With production and supply chains constantly threatened by new variants and unexpected wars and with an economy threatening to dip into recession, it matters more than ever. must invest in initiatives that expand our domestic semiconductor manufacturing capacity. China is positioning itself to command the semiconductor manufacturing sector over the next ten years. Over the past four decades, many foreign governments have invested heavily in chip-making initiative, including China, South Korea, Japan, and Taiwan – all prioritizing chip manufacturing. American semiconductor manufacturers are competitive globally, but we need U.S. semiconductor companies lead the market in innovation through research and development and added a whopping $246 billion to our GDP in 2020. The decline in market share of domestic semiconductor manufacturers is no reflection on the robustness of the industry. Production of new vehicles, both domestic and international, slowed so drastically under COVID that some people are able to sell their used cars back to dealers for more than they paid for them. The end result is a net negative for manufacturers and consumers, employers and workers.Ĭonsider what happened in the auto industry as a result of the pandemic. A shortage like the one we have endured for the past 2 years slows down their production and drives up their cost. But this is one that Congress can help fix.Īmerican manufacturers need these chips to produce so many products, from computers to cars to medical devices to many household appliances. And not every problem in manufacturing has a legislative solution. The manufacturers of Missouri, and across this country, are passionate, proud, and creative problem-solvers. This in turn has produced a domino effect across Missouri’s manufacturing sector, as well as that of the nation, as the global supply chain crisis has exposed our over-reliance on foreign-made chips. Once a leader in global manufacturing, today America only produces 12% of the world’s chips. semiconductor production, in competition with China.
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After more than a year after the Senate approved a $250 billion bill to support domestic semiconductor development and manufacturing, there are now two proposals in Congress that aim to provide resources for U.S.