Sens. Peters, Stabenow support bill that could help resolve chip shortage
Both lawmakers said the CHIPS Act would reduce inflation of automobile prices and benefit the UP
WASHINGTON, D.C., (WLUC) - A chip shortage has hurt the supply of motor vehicles and raised prices. There is a bill in the Senate called the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act.
It contains a provision that would create a fund supporting the domestic production of these chips. Michigan Democratic Senators Gary Peters and Debbie Stabenow helped secure that, with Peters telling the press Tuesday morning it is important for the country to be “the very center of the automotive technology for the rest of the world.”
“We have to start building these facilities now,” Peters said. “Even though this will take some time for them to come on board, if we don’t start now, we’re going to be in even bigger trouble two years from now or five years from now.”
Peters also said the $280 billion bill would also reduce inflation of automobile prices and bring more American jobs.
The Original Equipment Supplier Association (OESA) was also in the briefing, saying this could assist with supply chain issues.
“Dedicated funds to support the domestic production of semiconductor technologies will give the automotive industry, and specifically the automotive supply chain, a greater competitive advantage around the globe,” said OESA President & CEO Julie Fream.
Both senators also said this bill could benefit the U.P., with Stabenow citing science work schools like Michigan Tech University and Northern Michigan University have conducted.
“The science provisions are very, very important for us in terms of new technologies as well as what we’re doing on parts when we look at the U.P. and the manufacturers that are there as well,” said Stabenow.
The Senate advanced the bill Tuesday by a 64-32 vote. It is now on a path for final passage in the Senate this week. The House is also expected to take up the package. President Biden has said he supports it.
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