The COMPETES Act – bipartisan bill shaped by Sinema addressing supply chain issues and inflation and restores America’s leadership in semiconductor manufacturing – advances to the Conference Committee for final negotiations between both chambers of Congress
WASHINGTON – Following calls from Arizona senior Senator Kyrsten Sinema to pass into law the bipartisan COMPETES Act – both chambers of Congress advanced the legislation to Conference Committee – a critical step in getting the bipartisan bill signed into law. Once the bicameral and bipartisan Conference Committee finishes its work, the U.S. House and Senate will vote on final passage and then send the legislation to the President’s desk to be signed into law.
“Today’s critical step on our bipartisan semiconductor manufacturing bill represents the strength of this legislation that will create jobs, tackle current supply chain challenges, and lower prices for Arizonans by enhancing America’s leadership in semiconductor manufacturing,” said Sinema.
The Sinema-backed bipartisan COMPETES Act would invest $52 billion in Sinema’s CHIPS For America grants that will support Arizona’s domestic semiconductor industry and reduce reliance on foreign countries.
During a Senate hearing, Sinema underscored how semiconductors are essential for both the economic and national security of the United States. Semiconductors are necessary technologies Americans rely on every day – such as phones, cars, and computers – and are also a key resource for America’s military. The pandemic showed how the chip shortage directly impacted everyday families across the country by increasing prices on goods that include semiconductors.
Sinema highlighted Arizona as an example of the positive impact semiconductor legislation has on the economy. Sinema’s CHIPS For America Act fueled Intel’s $20 billion expansion in Arizona, creating thousands of jobs in the state. Additionally, Taiwan Semiconductor Manufacturing Company (TSMC) has started construction of a $35 billion advanced manufacturing site in Arizona which will create thousands of good-paying manufacturing jobs for Arizonans.