‘Imperative’ That Congress OKs Chip Funding, Says Raimondo

It’s “imperative” that the U.S. reinvests in the “critical” semiconductor industry to “ensure that more chips are made here at home,” Commerce Secretary Gina Raimondo told a business roundtable group Monday in Taylor, Michigan. She urged the House and Senate to “reach agreement quickly” on the U.S. Innovation and Competition Act (S-1260), which includes $52 billion in funding for domestic semiconductor production and R&D. The U.S. “was once a leader in the production of semiconductor chips, which power our smartphones, medical equipment, and automobiles,” said Raimondo. The U.S. today generates only 12% of global production and produces “zero percent of the most advanced chips,” she said. Rep. Debbie Dingell, D-Mich., told the group that Michigan is "ground zero for where the chip shortage is devastating autoworkers and auto companies."