Sherrill to CNBC: “There’s a lot of good news here … We’re seeing the force of the government’s push to reshore American manufacturing and create these jobs here at home.”
Parsippany, NJ — In case you missed it, Congresswoman Mikie Sherrill (NJ-11) appeared on CNBC’s Squawk Box this morning and discussed the one year anniversary and success of the bipartisan CHIPS and Science Act, which was passed to bring back American manufacturing jobs, strengthen our fragile supply chains, and invest in STEM education and R&D — which will keep the United States economically competitive for generations to come.
While in the early stages of implementation, the CHIPS and Science Act has already helped to create tens of thousands of jobs, generate an 80 percent increase in manufacturing construction, and spur more than $231 billion in private sector investments in semiconductor development.
A member of the House Select Committee focused on strategic competition with the Chinese Communist Party, Sherrill also highlighted the need to protect American businesses from unfair trade practices and limit outbound investments in technology critical to our national and economic security, like semiconductors, artificial intelligence, and quantum computing.
You can watch the full interview here.
Rep. Sherrill on the CHIPS and Science Act:
“There’s a lot of good news here. […] We’ve already seen 400 statements of interest from companies interested in applying for this [funding]. We’ve already seen $231 billion of private investment into chips manufacturing. And we’ve seen an 80 percent rise overall in manufacturing construction, year over year, which is really shocking. So we’re seeing the force of the government’s push to reshore American manufacturing and create these jobs here at home.”
Rep. Sherrill on limiting outbound tech investments in China:
“We’ve seen China become a risky investment. China no longer looks like such a great investment and companies are moving out of China because they can’t ensure their supply chains aren’t using forced labor. We’ve seen companies moving out because they feel they can’t ensure their technology won’t be stolen.”
“There are those key national security areas where we want to make sure we are protecting U.S. investment and protecting U.S. industry.”
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