For an MP3 soundbite, click HERE.
Senator urged collaboration to find solutions to bring down costs, help Arizonans keep more of their money in their pockets
WASHINGTON – Arizona senior Senator Kyrsten Sinema spoke during a Senate Banking Committee hearing about current supply chain challenges and inflation and their impact on Arizona.
“The global pandemic and Russia’s illegal war in Ukraine stretched and broke the fragile supply chains of businesses around the world, and Arizonans and Americans are dealing with the consequences by paying higher prices for fewer goods. We need to work together to find solutions that bring down costs and make it easier for families and small businesses to make ends meet,” said Sinema, a member of the Senate Banking Committee.
The Banking Committee hearing centered on shoring up supply chains in the United States. During her remarks, Sinema underscored the ongoing discussions about increasing domestic manufacturing in critical products like semiconductors, and highlighted the bipartisan CHIPS For America Act, which was funded in the bipartisan U.S. Innovation and Competition Act that Sinema cosponsored and helped shape. Sinema also suggested repealing outdated and misguided tariffs, like the previous administration’s on aluminum, as another way to lower prices and shore up supply chains.
Sinema recently cosponsored the bipartisan Investing in Domestic Semiconductor Manufacturing Act, which would ensure suppliers of semiconductor manufacturing equipment and materials are eligible to receive CHIPS grants to support expanded domestic manufacturing of semiconductors. This bipartisan legislation complements Sinema’s work on helping pass the CHIPS For America Act, which fueled Intel’s $20 billion expansion in Arizona, and created thousands of jobs in the state. Additionally, the Taiwan Semiconductor Manufacturing Company (TSMC) has started construction on a $35 billion advanced manufacturing site in Arizona which will create thousands of good-paying manufacturing jobs for Arizonans.
Sinema’s bipartisan Infrastructure Investment and Jobs law also helps address the supply chain challenges by helping ensure goods are delivered more safely and quickly to their destination, easing delivery and transportation bottlenecks and helping lower the prices of goods.