July 15, 2022

Bipartisan AG Coalition Urges Passage of Semiconductor Incentives Package

Bernard Nash

Cozen O'Connor

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Cozen O'Connor

Led by Ohio AG Dave Yost and Acting Vermont AG Joshua Diamond, a bipartisan group of 14 state attorneys general wrote a letter to Congressional leadership to finalize and pass the CHIPS (or Creating Helpful Incentives to Produce Semiconductors) Act to accelerate U.S. production of microchips and end the overreliance on foreign imports.
The Act would provide $50 billion in incentives for the domestic manufacture of microchips. Currently, approximately 75% of microchips are manufactured overseas and imported. Microchips, or semiconductors, are used in a wide variety of consumer products, ranging from cell phones to satellites and automobiles.
The House and the Senate have each passed their own version of the CHIPS Act, which is now in conference committee. The letter urged Congressional leadership to work with the conferees to facilitate and accelerate negotiations, and arrive at a final version of the bill as quickly as possible.

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