The legislation also includes Senator Cortez Masto’s provisions to secure an increase in Nevada’s fair share of research and development funding and support Nevada clean energy
Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) voted to pass legislation through the Senate to support the U.S. semiconductor manufacturing industry and bolster the United States’ international standing in the face of rising competitive pressure from the Chinese and other foreign governments. The bill 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 bill now heads to the U.S. House of Representatives.
“In order to compete in our international economy, the United States must invest in its domestic technology and manufacturing industries, including right here in Nevada,” said Senator Cortez Masto. “This legislation will help us prioritize American-made technology, drive greater research and development, create jobs, bolster our national security, reduce costs, and alleviate stress in our supply chains across a range of essential consumer products.”
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, including:
- Cortez Masto-Wicker provision to boost funding for states with smaller populations by ensuring that at least 20 percent of National Science Foundation (NSF) research dollars and scholarships are set aside for states that have historically received a low share. Today, six large states receive nearly half of NSF funding. This provision would direct tens of millions of dollars per year into Nevada’s science and technology economy and create good-paying jobs. The Cortez Masto-Wicker effort also increases funding for small states from the Department of Energy.
- Cortez Masto-Daines legislation to promote America’s global technological leadership by requiring a national strategy and regular national reviews to assess what the federal government is doing to maintain global prominence in science, innovation, and technology. The federal government currently does similar analyses in the fields of national defense and energy security.
- Cortez Masto-Luján legislation to support Nevada’s clean-energy economy by funding regional research partnerships to develop and deploy new clean-energy technologies. These new technologies will help create jobs, protect the environment, and reduce energy costs.
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.