CHIPS and Science Act Signed Into Law
On August 9, President Biden held a signing ceremony to put his stamp of approval on the bipartisan CHIPS and Science Act of 2022 thereby enacting the legislation into law. Biden hailed the bill, which in its final form provides $52.7 billion in subsidies for US semiconductor production, R&D, and advancements in science and technology, as a “once-in-a-generation investment in America itself.”
At this time there is no date certain when the US Department of Commerce will release rules relating to grants and underwritten chip production projects. However, companies have responded to the new law favorably.
Two days before the bill signing, Qualcomm announced it would purchase an additional $4.2 billion in semiconductor chips from GlobalFoundries’ New York plant. Micron also jumped on the chips bandwagon by announcing a $40 billion investment that would boost US market share from 2 percent to 10 percent; the company attributed “anticipated grants” from the Act as impetus for the investment. This follows recent announcements by Samsung and Intel that the corporations were exploring options to locate major chip-making factories in Texas and Ohio, respectively.
Both Republican and Democrat lawmakers attended the bill signing ceremony. While the legislation was not without opposition, the rallying cry for American economic and national security won out. Many Senators and Representatives (even those who would typically vote for public subsidization of private businesses) cited the fact that both China and the European Union were expending millions of dollars in tax or other subsidies to accelerate semiconductor chip production within their own borders as a reason to vote for the Act.
PRINTING United Alliance supported passage of the CHIPS and Science Act as one potential medium- to long-term solution to help alleviate supply chain concerns to keep print equipment costs competitive in the future.
Lisbeth Lyons is the Vice President of Government and Political Affairs at PRINTING United Alliance, the most comprehensive member-based printing and graphic arts association in the United States, comprised of the vast communities which it represents. The Alliance serves industry professionals across market segments with pertinent education, training, workshops, events, research, government and legislative representation, safety, and environmental sustainability guidance, as well as resources from the leading media company in the industry – NAPCO Media. Now a division of PRINTING United Alliance, Idealliance is the global leader in standards training and certification for printing and graphic arts operations across the entire industry supply chain.
In this article, Lisbeth addresses the CHIPS and Science Act. More information can be found at Business Excellence-Legislation or reach out to Lisbeth should you have additional questions specific to how these issues may affect your business: email@example.com.
To become a member of PRINTING United Alliance and learn more about how PRINTING United Alliance subject matter experts can assist your company with services and resources such as those mentioned in this article, please contact the Alliance membership team: 888-385-3588 / firstname.lastname@example.org.
Lisbeth Lyons is Vice President, Government & Political Affairs, PRINTING United Alliance, the largest, most comprehensive graphic arts trade association in the country. With more than 20 years of experience representing the voice of business on Capitol Hill, Lisbeth advocates for public policies that protect and advance the economic future of the printing and packaging industry. She oversees PRINTING United Alliance’s legislative, political, and grassroots advocacy initiatives, and has served in executive leadership of multiple successful advocacy campaigns, such as Coalition for Paper Options, Coalition for a 21st Century Postal Service, and Stop Tariffs on Printers & Publishers Coalition.
Prior to representing PRINTING United Alliance, Lisbeth served in similar roles at Printing Industries of America, US Telecom, and the National Federation of Independent Business. She also spent three years as a K-12 teacher in the Chicago Public Schools system, where she was on the forefront of urban education reform in the mid-1990s.
Lisbeth is Midwestern born and bred, having grown up in the St. Louis metropolitan area and attended college at DePauw University in Greencastle, Indiana, before starting her career in Washington, DC. She holds a B.A. in English/Sociology and a professional graduate certificate from The George Washington University School of Political Management. She lives in the historic Logan Circle neighborhood of Washington, DC.
An avid leader and learner in professional development, Lisbeth was a founding member of the Government Relations Leadership Forum, and is an active participant in organizations such as Council of Manufacturing Associations, Women in Government Relations, and National Association of Business PACs, among others. Lisbeth is often a featured speaker at premier industry conferences; she has spoken to Boards of Directors, corporate executive management teams, and state and regional trade associations across the country from coast to coast.