123 CEOs, Execs Urge Congress to 'Swiftly' Reach Compromise on US Chips, Competitiveness Bill

a bill to” President Joe Biden. A conference committee has been negotiating how to marry elements of the House-passed America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength Act (HR-4521) and Senate-passed U.S. Innovation and Competition Act (S-1260). Both measures include $52 billion in subsidies to encourage U.S.-based semiconductor manufacturing (see 2201260062) but differ in other areas. “The rest of the world is not waiting for the U.S. to act. Our global competitors are investing in their industry, their workers, and their economies, and it is imperative that Congress act to enhance U.S. competitiveness,” the executives said in a letter to House Speaker Nancy Pelosi, D-Calif., Senate Majority Leader Chuck Schumer, D-N.Y., and their GOP counterparts. “We call on Congress to act promptly to achieve a bipartisan agreement that can be passed and signed into law. Now is the time for Congress to complete its work on this important bill.” The Semiconductor Industry Association “joins U.S. business leaders in calling on Congress to swiftly pass competitiveness legislation that includes critical funding and incentives for domestic semiconductor research, design, and manufacturing,” said President John Neuffer. “Federal investment in the U.S. semiconductor ecosystem will ensure the U.S. continues to lead in the critical sectors of tomorrow, while also creating hundreds of thousands of high-paying American jobs, strengthening our economy, and securing our supply chains for decades to come.”