Hoyer Statement on the One Year Anniversary of the CHIPS and Science Act

WASHINGTON, DC – Congressman Steny H. Hoyer (MD-05), Chair of the Regional Leadership Council, released the following statement today marking one year since the CHIPS and Science Act was signed into law:

“One year ago today, President Biden signed the CHIPS and Science Act into law after it passed through both the House and Senate with sweeping Democratic support. When we enacted this landmark legislation last year, we set in motion a cascade of research and innovation by American businesses and entrepreneurs. That historic law will ensure that America continues to lead the world in developing and producing the advanced technologies that drive the global economy. Additionally, by strengthening our supply chains, this law makes our economy more resilient to disruptions – such as the war in Ukraine and the COVID-19 pandemic – that drive up consumer costs for Americans. The CHIPS and Science Act will keep delivering results in the coming months, generating good-paying jobs, spurring private investment in key industries, and opening doors of opportunity for entrepreneurs, workers, and families to Make It In America.

“This historic law has already started to transform communities across the country. Thanks in large part to the CHIPS and Science Act, the American economy has added 800,000 manufacturing jobs since President Biden took office. In the same period, private companies have invested $231 billion into domestic semiconductor manufacturing. Additionally, the CHIPS and Science Act and the rest of Democrats' Investing in America agenda have helped bring down inflation to a two-year low.

“Over the last seven months, I have been proud to serve as Chair of the Regional Leadership Council as we work to ensure that Americans in every corner of the country can access the opportunities created by the historic policies that Democrats secured in the 117th Congress, including the CHIPS and Science Act. Just two weeks ago, the Council met with Commerce Secretary Gina Raimondo, and we discussed how the CHIPS and Science Act is strengthening our supply chains and expanding domestic manufacturing – all while creating good-paying jobs and other economic opportunities that help American families get ahead. I look forward to continuing our work to implement these groundbreaking laws in the weeks, months, and years to come.”