SCHUMER STATEMENT ON PRESIDENT BIDEN’S PLAN TO INVEST IN THE U.S. SEMICONDUCTOR INDUSTRY THAT CAN FUEL MAJOR JOB CREATION ACROSS UPSTATE NEW YORK

Following his advocacy, Schumer released the following statement regarding President Biden’s Plan to Invest in the U.S. Semiconductor Industry, that included $50 billion to fund and implement the federal semiconductor manufacturing and R&D incentives, which Schumer introduced last year as part of his American Foundries Act, and that passed into law as part of the Fiscal Year 2021 National Defense Authorization Act:

U.S. Senate Majority Leader Charles E. Schumer said, “I have made it a top priority to work with President Biden to prioritize the absolute necessity of making a major investment in the nation’s semiconductor domestic manufacturing and R&D, which can also fuel new high-paying jobs across Upstate New York. President Biden delivered on my requests with his inclusion of $50 billion to implement the new federal semiconductor manufacturing and R&D programs, that I fought for and passed into law in last year’s defense authorization bill. With the industry’s top companies considering expansion and new investment at New York sites like STAMP in Western New York, White Pines in Central New York, Marcy Nanocenter in the Mohawk Valley, and Luther Forest in the Capital Region, we have no time to waste, so I want to move quickly to pass this funding to support the semiconductor industry’s plans to invest in the U.S., enhance our global competitiveness, promote our national security, and create thousands of new jobs. As I announced weeks ago, I am working to bring to the Senate floor this spring a competitiveness package that includes my bipartisan Endless Frontier Act to invest in American innovation and manufacturing. As part of this legislative effort, I am working with members of both parties and the administration to include emergency spending to fully fund the federal semiconductor manufacturing and R&D programs authorized in the defense bill.”

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