Congressman Carter of Louisiana Votes for CHIPS and Science Act to Lower Families’ Costs, Power American Economic Independence

Washington D.C. / Louisiana – On July 28, 2022, U.S. Congressman Troy A. Carter, Sr. from Louisiana voted for historic, bipartisan legislation to secure Louisiana families’ financial futures, boost America’s scientific advantage, and protect our economic and national security for future generations. The CHIPS and Science Act will make a significant investment in America’s global competitiveness by creating employment, lowering household prices, ending reliance on foreign manufacturers, and boosting American innovation. This legislation has already been passed by the Senate and is now on its way to the President’s desk to be signed into law.

“The CHIPS and Science Act is a major victory for Louisianians and our local economy,” said Congressman Carter. “This bold investment will create good-paying union jobs while ensuring America continues to compete and succeed on the world stage. By turbocharging our production of semiconductors, the CHIPS and Science Act will reinvigorate manufacturing here at home, lower kitchen table costs and bolster our independence from foreign suppliers. And by powering American innovation, this legislation will expand the path to opportunity in the 21st century – bringing research investments to local communities and broadening Louisiana’s STEM workforce. This is the latest step forward in House Democrats’ fight For The People, and we remain laser-focused on creating jobs, growing wages and slashing costs.”

A national shortage of semiconductor chips has seriously impacted American manufacturing, delaying production, raising prices, and increasing reliance on hostile foreign countries. Only 12% of semiconductor chips are being manufactured in the United States, down from 37% in the 1990s, while foreign competitors are significantly investing to dominate this crucial national security industry. Other countries have also begun to outstrip the United States’ research advantage, posing a threat to American technological and scientific leadership.

According to Congressman Carter, the bipartisan CHIPS and Science Act will reverse these dangerous trends, reasserting America’s economic independence and scientific dominance. Thanks to the strong leadership of House Democrats, this legislation:

• 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 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.

Congressman Carter further indicated that this Act provides significant safeguards to guarantee that federal semiconductor investments go directly into the Louisiana economy, rather than corporate coffers or hostile nations. The CHIPS and Science Act will do the following:

• 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.