Trade

Washington, D.C. – Ahead of consideration of legislation to bolster U.S. semiconductor manufacturing, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“A vote for the CHIPS Act funding is a vote for a stronger, more competitive manufacturing industry in America. But if Congress fails to pass this investment in the coming days, they will hand other countries a competitive advantage and weaken our own economy at a precarious moment.

“Other provisions of the China competition bill still under negotiation also need to make it to the president’s desk, and manufacturers firmly support their inclusion in this package. We will continue our advocacy for the anti-counterfeiting measures, trade provisions, supply chain investments and more. Congress must get those done.

“This week, we can take a powerful step forward with chips funding and move toward a future where semiconductor shortages—and the disruptions they’ve created—are a thing of the past. Other nations are not waiting around to ramp up semiconductor manufacturing. America should be leading, not falling behind.”

Background:

According to the NAM’s latest Manufacturers’ Outlook Survey, more than 88% of respondents said it was important for the federal government to take steps to support the domestic manufacturing sector in the face of increased global competition for industrial investment, with nearly 58% saying “very important” and 30.7% saying “somewhat important.” When asked about what aspects of the China competition legislation were most important for supporting manufacturing activity, the top choices were addressing port congestion and competition issues in ocean shipping (70.9%), eliminating ill-conceived labor provisions that facilitate unionization campaigns (61.3%), strengthening U.S. leadership in energy innovation and competitiveness (58.2%), funding to increase domestic semiconductor production capacity (57.9%), investments to support the critical minerals supply chain (55.7%) and ensuring the tax code provides a full deduction for research expenses (48.3%), among others.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.77 trillion to the U.S. economy annually and accounts for 58% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.