Stefanik Helps House Pass Crucial Legislation to Incentivize and Support Semiconductor Manufacturing
Washington, D.C. – Yesterday, Congresswoman Elise Stefanik voted in favor of House passage of provisions of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act as part of the William M. Mac Thornberry National Defense Authorization Act (NDAA) for Fiscal Year 2021. The CHIPS for America Act, which Congresswoman Stefanik cosponsored in June of this past year, was recommended for passage in the China Task Force’s final report, which Congresswoman Stefanik contributed to.
The CHIPS for America Act provides incentives for the investment in domestic facilities and equipment to manufacture and conduct research and development of semiconductors. These incentives will allow for the construction, expansion, or modernization of a facility involved semiconductor manufacturing.
“The CHIPS for America Act provisions passed in the FY21 NDAA provide significant incentives for the domestic manufacturing of semiconductors essential to our economic and national security,” said Congresswoman Stefanik. “These incentives are vital to manufacturers like GlobalFoundries, located in Malta, for the expansion and modernization of their facilities, and the increased production capacity of critical semiconductors. I look forward to working with my colleagues like Representative Michael McCaul to continue strengthening our domestic semiconductor industry, and with our companies like GlobalFoundries to ensure that we create the necessary environment to encourage manufacturing modernization and expansion and create many more well-paying jobs for people in the North Country.”
“We are happy to see provisions of the CHIPS for America Act included in this year's NDAA that passed the House,” said Tom Caulfield, GlobalFoundries CEO. “This legislation is critical for the domestic semiconductor industry and manufacturers like GlobalFoundries. We want to thank the Congresswoman for her assistance in seeing this piece of legislation across the finish line in the House.”
“We want to thank Congresswoman Stefanik for her leadership in creating bipartisan support for the CHIPS Act and the National Defense Authorization Act,” said Todd Shimkus, President of the Saratoga County Chamber of Commerce. “With the pandemic upon us, the CHIPS Act has the potential to support GLOBALFOUNRIES’ efforts to invest even more in Fab 8’s manufacturing capacity, in Malta. This action is a strategic investment in our local manufacturing sector that will really help our local and regional economy to recover and rebound.”
Read an op-ed previously published by Congresswoman Stefanik in September expressing support for the CHIPS for America Act here.