Contact:
Daniel Tellez
202-225-6611
daniel.tellez@mail.house.gov
WASHINGTON, D.C. — Congressman Fulcher released the following statement on the CHIPS+ Act:
"As someone with fifteen years of experience working for one of the largest semiconductor companies in the world, I recognize the importance of the industry and the threat that a market dominated by China would pose. Both opponents and supporters of the CHIPS+ Act seek a strong domestic semiconductor industry - not reliant on foreign supply. The difference lies in the proposed solution. Members like me look to the free market, and see that since the beginning of 2021, semiconductor companies have announced nearly $80 billion in domestic investment plans through 2025. Meanwhile, China remains a net importer of semiconductors, at about $300 billion every year. While we cannot understate the risk currently posed by China’s position in the semiconductor market, we also should not understate the current devastating effects of inflation – which is further exacerbated by more government spending. Senator Schumer’s last-minute decision to add $200 billion in unrelated spending to the bill cements this legislation’s fiscal irresponsibility. If Congress is serious about encouraging business investments, it should look to proven solutions like reducing taxes and regulatory barriers.”
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