The U.S. Senate recently approved bipartisan legislation cosponsored by U.S. Sen. Marsha Blackburn (R-TN) that aims to bolster efforts by the United States government to attract foreign investment in domestic semiconductor manufacturers and supply chains.
The Securing Semiconductor Supply Chains Act of 2021, S. 3309, which was sponsored in December 2021 by U.S. Sen. Gary Peters (D-MI), received the Senate’s unanimous consent on June 16 and was received in the U.S. House of Representatives on June 21.
“The passage of the Securing Semiconductor Supply Chain Act in the Senate gets us one step closer to making existing resources available to producers of semiconductor equipment,” Sen. Blackburn said on Wednesday. “This work is essential to decreasing our reliance on companies controlled by the Chinese Communist Party, restoring global supply chains, and boosting manufacturers in Oak Ridge and Nashville, Tennessee.”
If enacted, the bill would direct the U.S. Department of Commerce’s SelectUSA program to solicit comments from state economic development organizations regarding federal efforts to increase foreign direct investment in semiconductor-related manufacturing and production, according to the congressional record bill summary.
SelectUSA, which was established in 2011 to coordinate federal efforts to attract and retain business investment in the U.S., then must report to Congress on the comments, as well as on what strategies SelectUSA may employ to increase investment and to secure the U.S. semiconductor supply chain, the summary says.
“The ongoing semiconductor chip shortage has caused major disruptions for Michigan’s manufacturers and automakers and further exposed an overreliance on foreign producers that threatens our economic and national security,” said Sen. Peters. “By boosting our semiconductor manufacturing capabilities and driving investments in American manufacturing, this legislation will bolster our domestic supply chains and strengthen our global economic competitiveness.”
The U.S. House Energy and Commerce Committee is considering the related bill, H.R. 7576, introduced on April 26 by U.S. Reps. Anna Eshoo (D-CA) and Greg Pence (R-IN).