Political Quotes

“on CHIPS, today, the administration released a number of proposed guardrails that will ensure the Chinese Communist Party does not benefit from our efforts to increase chip production here at home. We first put these guardrails into the CHIPS and Science bill, which we enacted into law last summer--something we are very proud of and that I am very proud of. We put them in because we didn't want to see companies getting help to expand operations in America and then using other dollars to expand operations in countries like China. I am glad the administration is implementing this law with good, strong guidelines--with good, strong regulations. Specifically, the Department of Commerce and the Treasury have proposed new restrictions, which the Senate approved through the CHIPS and Science Act, on the amount companies receiving CHIPS money can invest in projects located within countries of concern. That includes Russia and China. Abusing CHIPS funding to expand projects in China- based markets would be self-defeating, and it would endanger our national security. This is what we passed into law in the CHIPS bill, and this proposed rule will implement it in a strong way. If we are serious about investing in domestic chip production, the last thing we should be doing is allowing companies to take CHIPS dollars and use them to build facilities in China that benefit the CCP. I applaud the administration.…”