Congressman Tim Ryan Votes to Pass CHIPS and Science Act

Press Release

Today, Congressman Tim Ryan (OH-13) voted to pass legislation that provides historic funding for domestic semiconductor production and helps position Ohio to lead the industries of the future. The CHIPS and Science Act will deliver a powerful investment in America's global competitiveness -- creating jobs, slashing kitchen table costs, ending our dependence on China and turbocharging American innovation. Ryan has repeatedly pushed for swift passage of the CHIPS Act, writing multiple letters to Congressional leadership, and taking to the House floor to voice his support.

"I have been fighting for months now in Congress to pass this critical legislation and get funding out the door to support a multi-billion-dollar Intel project that will revolutionize Ohio's future, invest in our workers, and bolster our economy. Today, we finally got it done," said Congressman Ryan. "By passing this bill, we are finally setting America on the path to win back the global economy, ending our dangerous dependence on China, strengthening our national security, and investing in the innovation that is going to keep our nation and our workers on top."

In January, Intel announced a $20 billion investment to build a semiconductor plant in central Ohio, which is expected to create at least 10,000 good-paying jobs. The CHIPS and Science Act will support Intel's initial investment to create thousands of additional jobs in Ohio. It will also support critical Ohio industries, like the auto industry and other high-tech manufacturing.

A nationwide shortage of semiconductor chips has severely disrupted American manufacturing -- slowing down production, spiking prices and increasing dependence on unfriendly foreign nations. Only 12 percent of semiconductor chips are currently manufactured domestically -- a dramatic drop from 37 percent in the 1990s -- while foreign competitors are investing heavily to dominate this critical national security industry. Other nations have also begun to outpace the United States' research advantage -- threatening American preeminence in technology and scientific innovation.

The bipartisan CHIPS and Science Act will reverse these dangerous trends, reasserting America's economic independence and scientific dominance. The legislation will:

Lowers costs for American consumers -- by making more critical semiconductor components in America, helping end the shortage of chips that have driven up the price of everything from cars to consumer goods.
Creates 100,000 new good-paying jobs -- creates strong Davis-Bacon labor protections for jobs building hi-tech manufacturing facilities here in America.
Ends our dangerous dependence on foreign manufacturers -- bringing critical semiconductor manufacturing back to America instead of overseas where it can be threatened by our adversaries.
Turbocharges American R&D -- powering America's preeminence in both basic research and next-generation technologies and ensuring that the technologies of the future are made here in America.
Diversifies and expands the innovation workforce -- broadening the pool of brainpower and talent so that we are embracing the full potential from all our communities, helping to diversify our STEM workforce and advancing regional technology hubs to ensure communities across the country can help in American research and development.

This legislation also includes strong guardrails to ensure that federal semiconductor investments go straight into Ohio's economy. The CHIPS and Science Act will:

Prohibit companies from using CHIPS funding for stock buybacks or dividend payments.
Bar funding recipients from expanding semiconductor manufacturing in countries of concern.
Require strong oversight and tight Congressional control over the use of federal funds.

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