When chips are down, Congress should support the semiconductor industry

The United States has been forced over the past two years to deal with a global shortage of semiconductors, which has affected the daily lives of nearly every American. The experience has given us the opportunity to examine the miracles that make possible our nation’s technological, economic and military leadership. The computer chip industry is one. We’ve discussed this with our fellow CEOs Geoff Martha of Medtronic and Jim Taiclet of Lockheed-Martin, and it’s clear to all of us that something needs to be done to address the shortage of chips critical to the economy and defense of our country. That’s why we urge Congress to act quickly to ensure that the United States has a reliable supply of domestically produced semiconductors.

The pandemic supply chain shock exposed a problem that had been escalating for years. The United States’ share of global chip manufacturing has fallen to 12% from 37% in 1990. South Korea and Taiwan, in particular, have spent years actively investing in their own chip manufacturing, creating uneven playing field for US chipmakers, hurting our economy and global competitiveness.


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