Statement from President Biden on House Passage of CHIPS and Science Act to Lower Costs, Create Good-Pay Jobs and Strengthen Our National Security
Today, the House passed a bill that will make cars cheaper, appliances cheaper, and computers cheaper. It will lower the costs of every day goods. And, it will create high-paying manufacturing jobs across the country and strengthen U.S. leadership in the industries of the future at the same time.
The CHIPS and Science Act is exactly what we need to be doing to grow our economy right now. By making more semiconductors in the United States, this bill will increase domestic manufacturing and lower costs for families. And, it will strengthen our national security by making us less dependent on foreign sources of semiconductors. This bill includes important guardrails to ensure that companies receiving tax payer dollars invest in America and that union workers are building new manufacturing plants across the country.
I look forward to signing this bill into law and continuing to grow our economy from the bottom up and middle out for working families all across the country.