US commerce secretary urges lawmakers to pass US$52 billion chip-making bill, warning companies could turn elsewhere
- US Commerce Secretary Gina Raimondo said companies will look to other countries if funding bill for semiconductor industry is not passed by September
- Despite bipartisan support and a global chip crunch, lawmakers have failed to reach consensus on a final version of the sprawling package
“Mark my words … if Labour Day comes and goes and this Chips Act isn’t passed by Congress, these companies will not wait and they will expand in other countries,” she warned in an interview on CNBC.
Both houses of Congress have passed versions of legislation to make the United States more competitive with China that include the chip funding.
However, lawmakers have so far failed to reach consensus on a final version of the sprawling package, despite a global chip crunch.
“The consequences to our national security are grave. If we don’t get this passed, and if you’re not going to be able to get everything you want in this, it’s time to move on because we cannot wait,” she admonished lawmakers.
GlobalWafers did not immediately respond to a Reuters’ request for comment.
The persistent industry-wide shortage of chips has disrupted production in the automotive and electronics industries, forcing some firms to scale back production.