U.S. Secretary of Commerce Gina M. Raimondo released the following statement following President Biden’s signing of the CHIPS and Science Act of 2022.

“Today, President Biden signed into law a historic investment that will help revitalize the U.S. domestic manufacturing economy, spur research and development in critical industries, and enable us to continue outcompeting and out-innovating the rest of the world. This could not have come at a more urgent moment. These investments will create high-quality, good paying jobs for hundreds of thousands of Americans, secure American supply chains, and protect America’s global leadership for decades to come.

“I applaud the members of Congress – both Democrat and Republican – who worked hard to get this law to the President’s desk. In particular, I’d like to thank Speaker Pelosi, Leader Schumer, and Leader McConnell for prioritizing this legislation to protect America’s competitive edge. Chairs Cantwell, Johnson, Pallone, Ranking Members Wicker and McCaul, as well as Senators Warner, Cornyn, Kelly, Young and Representative Matsui all played crucial roles in ensuring this bill’s provisions made our country stronger and more competitive. Today’s bill singing would also not have been possible without the leadership of Chairs Shaheen, DeLauro and Cartwright alongside Ranking Members Moran and Granger.

“Most importantly, I applaud President Biden whose engagement, steadfast leadership, and commitment to American workers and American manufacturing made passage of this law possible.

“Today, we’re sending a clear signal to the world that we are serious about rebuilding our domestic manufacturing industry and leading the world in science and innovation for decades to come. I’m excited to get to work doing exactly that.”