On the recordMay 4, 2022
I rise in opposition to Senator Sanders' motion to instruct. When America invented the semiconductor 40 years ago, we produced nearly half of the world's semiconductors. Today, we produce less than 10 percent. Look what happened: Plants shut down across Ohio. Whirlpool, Ford, GM--forced to idle plants because of the ``spread out all over the world'' supply chain. We passed the CHIPS Act 2 years ago. I thank Senator Cantwell who-- what she has done to stop this, encourage more production of these chips at home. This bill will fund--this legislation will fund the bill Congress already passed. It is not a bailout. It is critical to my State--10,000 good jobs, 5,000 building trades--union building trades jobs paying prevailing wage for the next 10 years. It is an incentive program. The EU, China, Taiwan, South Korea all provide incentives to make these chips domestically. None of them require stock warrants. Everybody in this body knows my position in opposition to the financial services industry to stock buybacks. You can count on that. I yield my final 30 seconds to Senator Wicker. The PRESIDING OFFICER. The Senator from Mississippi.
