CHIPS and Science Act Signed Into Law; President Touts American Competitiveness

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 Vice President, Government and Political Affairs

With more than 20 years of experience representing the voice of business and industry 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. Lisbeth holds a B.A. from DePauw University and a professional graduate certificate from The George Washington University School of Political Management. Lisbeth is often a featured speaker at premier industry conferences.

Speaking Topics:

  • Legislative updates on key issues impacting a diverse printing industry
  • Issue Spotting: Trends in Public Policy
  • Overviews of industry public relations campaigns and coalition initiatives on Capitol Hill
  • Shifting the relationship between business and government from adversarial to collaborative in order to advance advocacy agendas
  • Engaging stakeholders
  • Election forecasting and results analysis; elections impact on industry advocacy agendas
  • Leveraging business and industry political action committees to enhance visibility and advocacy success
  • Role of women in government affairs and industry trade associations