Today, U.S. Congressman Donald Norcross (NJ-01) voted to pass the CHIPS and Science Act, which invests $280 billion in creating jobs, boosting American manufacturing, lowering costs for families, and reigniting American competitiveness.

“The best way to secure our supply chain is to make sure it’s Made in America. This bill will allow us to Make It and Buy It in America. It will create good-paying jobs and increase the supply of semiconductor chips we use in everything from our cars to our smartphones,” said Congressman Norcross. “American workers are the engine that powers our economy, and this bill is a win for workers. This law also invests in American innovation so we can continue leading the global economy and reduce our reliance on increasingly hostile nations like China.”

The CHIPS and Science Act takes multiple approaches to create jobs and unleash American innovation, including:

• Investments in Semiconductors and Chip Manufacturing: $52.7 billion in investments and incentives for American semiconductor companies to research, develop, and manufacture chips here in America. This will help lower costs for consumers and insulate them from disruptions in the global supply chain, like when the pandemic caused a shortage of semiconductors which lead to a shortage of cars and sent costs for new and used vehicles surging.
• Research and Innovation: $141.3 billion for the Department of Energy Office of Science, National Institute of Standards and Technology, and National Science Foundation to promote research that expands knowledge and innovation across the country. Investing federal funds into fundamental scientific research has led to inventions like the cellphone and internet, and by investing in basic research today we can unlock economic development and technological advances for decades to come.

Read the section-by-section summary of the bill here.