Senate passes bill aimed at boosting U.S. chip production
SAVANNAH, Ga. (WTOC) - Georgia U.S. Senator Raphael Warnock is celebrating a victory on Capitol Hill after the Senate passed a bipartisan bill aimed at boosting U.S. chip production and competition with China.
The $280 billion “Jobs and Competition” bill puts money toward domestic chip production. Throughout the pandemic, chip shortages have had a negative impact on our economy.
Sen. Warnock says, that’s because most of the microchips - which we use to run everything from phones to cars - are made overseas. He said that’s a problem.
“It means we’re waiting on chips, which we need in everything, to come from somewhere else. That means money out of people’s paychecks, it’s a drag on the economy, and this once-in-a-generation investment will spur that kind of private sector development - which will create jobs and strengthen our supply chain,” Sen. Warnock said.
Warnock said back in the 1990′s, the U.S. produced about 40 percent of the chips worldwide. Now, we produce closer to 10 percent.
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