The Semiconductor Industry Association Supports Senate Commerce Committee’s Proposed CHIPS & Science Act Funding Programs

The Semiconductor Industry Association (SIA) released a statement on April 30, 2024, expressing its support for legislation pending before the Senate Commerce Committee. The statement was made by Vice President of Government Affairs David Isaacs, who commended Chair Cantwell’s leadership in proposing provisions that would fund critical CHIPS & Science Act programs.

SIA serves as the voice of the semiconductor industry, representing 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. The semiconductor industry is a key driver of America’s economic strength, national security, and global competitiveness. Through its coalition, SIA seeks to strengthen leadership in semiconductor manufacturing, design, and research by collaborating with Congress, the Administration, and key industry stakeholders worldwide.

The CHIPS incentives program and research programs authorized by the CHIPS & Science Act are particularly important to SIA because they would advance innovation and promote resiliency in the semiconductor supply chain. SIA believes that these programs are essential for maintaining America’s position as a global leader in semiconductor technology and ensuring that our country remains competitive in an increasingly complex geopolitical landscape.

In addition to supporting funding for these programs, SIA also encourages policies that foster innovation and support businesses in the semiconductor industry. This includes investing in research and development, promoting workforce training initiatives, and streamlining regulatory procedures to encourage entrepreneurship and growth within the industry. By doing so, SIA aims to drive international competition and ensure that American companies remain at the forefront of technological advancements for years to come.