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Sen. Gary Peters Revives Securing Semiconductor Supply Chains Act

Sen. Gary Peters, D-Mich., announced Thursday that he has reintroduced the Securing Semiconductor Supply Chains Act together with Sens. Rick Scott, R-Fla., and Marsha Blackburn, R-Tenn.

The bill, which passed in Senate in June, would authorize the Department of Commerce’s SelectUSA program to devise investment strategies for domestic semiconductor manufacturing and supply chains.

If signed into law, the legislation would mandate SelectUSA to collaborate with state-level economic development groups and federal agencies to identify gaps and challenges in attracting foreign investments in chip manufacturing. The program will then develop solutions to those obstacles.

“We need to build on the CHIPS and Science Act to continue advancing efforts that will lower the cost of goods and strengthen our economic competitiveness, supply chains and national security,” said Peters, a member of the Senate Commerce, Science, and Transportation Committee. “That’s why I’m reintroducing this bipartisan bill that would do just that by encouraging investment in U.S. semiconductor manufacturers as well as their suppliers – lessening our dependence on foreign producers for these critical technologies and creating good-paying jobs here at home.”