The bipartisan CHIPS and Science Act of 2022 that President Biden signed into law today will be transformative for science and technology in America, now and long into the future.
The stakes of this investment couldn’t be higher: Six decades ago, researchers in the United States invented the semiconductor chip, transforming our economy and changing our lives. But today, only about ten percent of the world’s supply is produced in America. For our security and our prosperity, now is the time to close this gap—and the President’s signature comes not a day too soon.
In the short term, this law delivers major investments to ensure we lead the world in the chips that power everything from our phones to our cars. The innovation ecosystem that leads advanced research and development into semiconductors and microelectronics will soon receive an injection of new energy—$13 billion in targeted federal funding for everything from prototyping and commercialization to manufacturing.
But these are also historic investments in our people—dollars that will empower American institutions, research, development, and innovation to continue making life better, safer, and more prosperous for generations to come. New investments in STEM education and employment will expand the bounds of who gets to benefit from American innovation and jobs. And expanded funding support for the National Science Foundation, the Department of Energy’s Office of Science, and the National Institute of Standards and Technology means that the U.S. government will keep catalyzing the boldest and most promising ideas to solve our collective challenges, translating the research conducted by our institutions into startups and on to the factory floors that bring solutions to market.
As the President has said, these investments and others are critical to creating jobs and new industries here in America, and winning the competition for the 21st century. The Office of Science and Technology Policy is prepared to deliver on the promise of the CHIPS and Science Act, help lead its implementation, and coordinate with federal science and technology agencies to meet the needs of this moment and position our nation for the decades to come.