Main purpose:

To surge production of American-made semiconductors, tackle supply chain vulnerabilities to make more goods in America, revitalize America’s scientific research and technological leadership, and strengthen America’s economic and national security at home and abroad. 

Background:

The bill is a funding program seeking to develop onshore domestic manufacturing of semiconductors critical to U.S. competitiveness and national security considering that only 12% of chips are currently manufactured domestically, compared to 37% in the 1990s, and many foreign competitors, including China, are investing heavily to dominate the industry. The CHIPS Act of 2022 would provide appropriations needed to implement the currently authorized programs from the bipartisan CHIPS for America Act. To ensure the Congressional goal of promoting domestic competitiveness, the Act would also install safeguards to ensure that recipients of Federal funds from these programs cannot build advanced semiconductor production facilities in countries that present a national security concern. This program would also help shore up the global telecommunications supply chain and limit the scope of involvement globally of telecommunication companies with close ties to the Communist Party of China, like Huawei.

Sponsor: Rep. Eshoo, Anna

Cosponsor: Rep. Kelly, Trent

Major immigration reform proposals:

Companies proposed that the U.S. should exempt eligible immigrants with a doctorate and master’s degrees in science, technology, engineering and mathematics (STEM) from annual green card country caps, as well as allow for the recapture of unused green cards to reduce the “massive backlog” of employer and family sponsored green card applicants. Advocates, including national security professionals from both Democratic and Republican administrations, say the US needs the measure to recruit and retain global talent in defense, aerospace, and other critical industries. However, these proposed provisions are not present in the bill. Another immigration-related measure not included in the slim manufacturing bill is a House-passed provision to create new visa categories for startup founders and key employees.

Likelihood of being passed into law:

According to an article: the White House said that President Biden would be signing the bill into law on Tuesday, August 9.