Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) celebrated the signing of legislation she voted to pass to support the U.S. semiconductor manufacturing industry and combat competition from the Chinese and other foreign governments. The Chips and Science Act, which contains several provisions Senator Cortez Masto secured, will help increase U.S. research and development, alleviate severe supply chain backlogs, support American workers, and improve U.S. national security and economic competitiveness.
“This is a critical step to help the United States compete economically on the world stage, invest in our domestic manufacturing industries, and create jobs here at home,” said Senator Cortez Masto. “I worked to ensure this law will bolster Nevada’s innovation economy, including our institutions of higher education, our booming clean-energy industry, and our cutting-edge technology sector, all while strengthening our national security, reducing costs, and resolving supply chain challenges.”
The legislation includes provisions to strengthen innovative technological competitiveness in America, including $52 billion to help domestic semiconductor manufacturers scale up production, increase research capacity, and support workforce training programs. In addition, the bill includes $1.5 billion to help secure the wireless supply chain, and it provides microchip manufacturers with a critical Investment Tax Credit (ITC) to help improve their ability to compete across the globe.
Senator Cortez Masto led several provisions in this legislation to boost National Science Foundation research funding for states like Nevada with smaller populations, promote America’s global technological leadership by requiring a national strategy and regular reviews, and support Nevada’s clean-energy economy by funding regional research partnerships.
Through her Innovation State Initiative, Senator Cortez Masto has been working to boost both American and Nevada’s competitiveness, alleviate supply chain backlogs, and counter the Chinese government’s efforts to influence technology, research, and labor standards. Her bipartisan legislation to help ensure the Chinese government isn’t exerting undue influence on international technology standards-setting was signed into law in 2020, and she’s pressed for the passage of investments in semiconductors. Last year, Cortez Masto’s bills to promote a domestic critical mineral supply chain, expand domestic manufacturing in batteries, and unlock greater smarter transportation technologies were included in the Infrastructure Investment and Jobs Act.