If there is one attribute that the Republican party can pride itself on, it’s the fact that it has truly made patriotism at the forefront of its platform over the past several years.
Indeed, the global supply chains that became wildly popular over the last few decades are steadily becoming less favored, especially as national security concerns mount.
For this reason, the MAGA movement, which stresses the importance of American greatness, has led to a number of major initiatives designed to bring industry back to the United States.
And yet another major company has just bitten, with scores of semiconductor chips to be produced domestically, thereby alleviating concerns with national security.
According to a report from the Wall Street Journal, “Taiwan Semiconductor Manufacturing Co. plans to invest at least $100 billion more in chip-manufacturing plants in the U.S. over the next several years,” the Wall Street Journal reported.
Talk about winning!
As declared on the official Congressional webpage, the CHIPS act “provides funds to support the domestic production of semiconductors and authorizes various programs and activities of the federal science agencies.”
Indeed, the 2022 CHIPS and Science Act provided $52 billion for the domestic semiconductor manufacturing industry, and that investment is clearly paying dividends well into 2025, as evidenced by the recent news with Taiwan Semiconductor.
Indeed, Republican Senator John Cornyn highlighted how critical the bill is for shoring up American defenses that have been pulverized by prior administrations.
“The whole purpose of this was national security,” Cornyn asserted.
Absolutely. A real “America First” agenda.
“I think reconstituting domestic manufacturing of advanced semiconductors is a national security and economic imperative,” Cornyn added.
Without a doubt. It’s a great shame that it took so long to pass such an act, but at least it’s finally passing.
The national security implications are too serious if it doesn’t.
“Because if there’s a disruption between Asia or Taiwan, to be more specific, and the United States, we would plunge into a depression and we wouldn’t be able to build advanced weapons or aircraft like the F-35,” Cornyn proclaimed.
Correct.
And that’s why Cornyn has been such an outspoken advocate of the bill for years.
As declared by Cornyn in 2022, “this funding will help kick start domestic production of these semiconductors in a way that will prevent a vulnerability of our supply chain since 90 percent of those advanced semiconductors currently come from Asia.”
“The way we are going to compete with China and beat them is to out-innovate them, because no country in the world has better human capital, better brains, and a better system to encourage innovation,” Cornyn asserted.
Absolutely.
Little wonder that many other patriotic Americans are on board, such as Senator Todd Young, a Republican from Indiana.
“My expectation is that the administration will continue to support this supply chain resiliency and national security initiative. If it needs to transform into a different model over a period of time, I’m certainly open to that. But let’s be clear, CHIPS and Science Act – at least the CHIPS portion – has mostly been implemented,” Young mused.
Excellent.
It’s great to know the plan is open to adaptability and flexibility as needed. So that current and future administrations may further finesse it, just as they’ve done with previous landmark laws.
And this CHIPS act certainly will be remembered as a landmark.
“It’s been one of the greatest successes of our time, diplomatic successes, commercial successes and economic successes, and we’ve seen by some estimates roughly $650 billion of private sector commitments from a roughly $30 billion taxpayer investment,” Young asserted.
Without a doubt. May that success continue!
Author: Jane Jones
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