As delivered during today's hearing:
Today’s hearing covers the Senate Amendment to H.R. 4346, what is now being called the CHIPS-Plus bill. As anyone who has observed this process knows, the road to get us to this point has been a long, winding and frequently frustrating one.
Earlier this year, Democratic leadership considered a wholly inadequate bill in the House, as it did nothing to reposition the United States to confront Communist China or to set up our semiconductor industry for success. Instead, it was a bill written behind closed doors in the Speaker’s office that masked its inadequacy behind a laundry list of requests for a "strategy" and requirements to file reports.
Thankfully what we are considering today from the Senate is a bipartisan bill, which passed that chamber by a vote of 64-33, and will actually accomplish something for America to ensure our competitiveness with China. The measure includes a significant investment in our semiconductor industry so that we will be able to manufacture those critical pieces of technology domestically, plus significant investments in the sciences.
While today’s bill is not perfect, and it is not the one I would have written if I had the power to act on my own, I do think it is a good bill overall. As I’m sure my colleague from Oklahoma, Mr. Lucas, will describe, this bill includes a-once-in-a-generation reform to the federal science agencies.
I understand that some of my Republican colleagues have concerns, particularly around the wisdom of providing incentives for the semiconductor industry, and about the overall cost of the bill. I look forward to discussing these concerns during our hearing today.