McCaul, Matsui Statement on Key Milestone for CHIPS Act Implementation

WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) and Congresswoman Doris Matsui (D-Calif.), co-authors of the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act, issued the following statement after the first CHIPS Act Preliminary Memorandum of Terms was issued by the Department of Commerce.

“We introduced the original CHIPS Act three and a half years ago to solve an urgent national security threat,” said the representatives. “Our military depends on a secure and predictable supply of semiconductors to build its most vital and sensitive equipment. Today’s announcement shows the CHIPS Act is working as intended – enhancing domestic manufacturing capacity and building a resilient, diversified supply chain; two national security imperatives. As co-authors of this groundbreaking legislation, we will continue working with urgency to implement the CHIPS Act quickly and reaffirm America’s global innovation leadership.”

Background:

At the recommendation of President Trump’s national security team, Rep. McCaul first introduced the CHIPS for America Act in 2020, alongside Representative Doris Matsui (D-Calif.) and Senators John Cornyn (R-Texas) and Mark Warner (D-Va.). The bill was signed into law in August of 2022.

The CHIPS Act is already spurring investments of hundreds of billions of private sector dollars in domestic chip manufacturing projects throughout Texas and the nation — bolstering the U.S. economy and reducing our reliance on foreign nations for this critical technology.

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