Center for American Progress

RELEASE: The CHIPS and Science Act Will Cut Families’ Costs, Invest in Innovation, and Strengthen the US Economy 
Press Release

RELEASE: The CHIPS and Science Act Will Cut Families’ Costs, Invest in Innovation, and Strengthen the US Economy 

Washington, D.C. — Today, the Center for American Progress released a new fact sheet that outlines how the recently passed CHIPS and Science Act will promote equitable economic opportunities and bolster U.S. national and economic security.

The measure, which will invest $280 billion into the semiconductor industry, will reduce dependence on semiconductor manufacturing in anti-democratic countries and invest in a future of American innovation. It will also promote inclusive growth; all Americans will benefit from lower costs due to expansion of the domestic supply chain.

The law will help build a resilient economy that can withstand global challenges such as the pandemic and Russia’s invasion of Ukraine.

Read the fact sheet:The CHIPS and Science Act Will Invest in U.S. Innovation and Create Jobs” by Trevor Sutton, Sofia Carratala, and Colin Seeberger

For more information or to speak with an expert, please contact Sam Hananel at shananel@americanprogress.org.