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U.S. Secretary of Commerce urges Congress to act on tip funding by August

From Washington-US Secretary of Commerce Gina Raimondo calls on Monday to take action on a $ 52 billion increase in government funding for semiconductor manufacturing and research before Congress departs for a break in August. Prompted to.

On June 8, the US Senate cast 62-38 votes to approve funding and $ 190 billion aimed at empowering countries to compete with China’s technology.

“This is extremely important and necessary, they want it to be done, and they want it to be done soon,” Lymond told Reuters in a telephone interview. Before taking a break for the summer vacation in August. ” We support you in achieving something in a short period of time. “

A global chip shortage has forced automakers and other industries to cut production this year.

Mr Lymond said there was no big difference in how House and Senate leaders viewed semiconductor financing issues. She said it was not yet clear which vehicle Congress would use to approve semiconductor funding, “basically essential for national and economic security.”

Lymond said he would soon talk to Speaker of the House Nancy Pelosi about chip funding.

“I’m going to urge her to do whatever it takes to get this through her room,” Lymond said.

But she admitted that the House of Representatives “wants to put their mark on this,” and that it is unlikely to simply approve the Senate’s bill, called US Innovation and Competition Law.

Asked if the government excluded the use of the Defense Production Act to speed up chip production, she said the focus was on parliamentary action. “We’re going to pursue that path for now,” she said.

In May, government funding generated “more than $ 150 billion” in investment in chip manufacturing and research, including donations from state, federal, and private companies, between 7 and 10. He said he expects a new tip facility to be born. ..

She said she needed to create a team for her department to process and award the funds, and that it would take time to build the plant after the money was awarded.

“The lead time is huge,” said Lymond. “The time to start is yesterday.”

https://njcar.org/automotive-news/dealer-headlines/u-s-commerce-chief-urges-congress-to-act-on-chip-funding-by-august/ U.S. Secretary of Commerce urges Congress to act on tip funding by August

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