National Urban League Applauds President Biden for Signing the CHIPS and Science Act

WASHINGTON, DC (August 2, 2022) – Today, Marc H. Morial, President and CEO of the National Urban League made the following statement after President Biden signed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act into law:

“Today, President Biden invested in the American people by signing the CHIPS and Science Act into law. This bill will invest billions of dollars in domestic semiconductor manufacturing and science research, essentially lowering the cost of everyday goods, create high-paying manufacturing jobs across the country and strengthen our national security by making us less dependent on international sources to create our products.

“This bill is vital for boosting the country’s production of semiconductors, which are a critical component to everyday products including electronics, automobiles, and health care equipment. As the world grappled with the effects of the COVID-19 pandemic, production factories shut down, which slowed the production for semiconductors and caused an increase in supply chain vulnerabilities.

“The CHIPS and Science Act will also create 100,000 new, good-paying jobs and diversify and expand the innovation workforce. These steps to revitalize communities across our nation will support persistently distressed communities, particularly those of color that were disproportionately impacted by the pandemic, with economic development activities.

The National Urban League looks forward to continuing to work with the Biden Administration to strengthen America’s economy and ensure these investments benefit communities of color – at the employee, entrepreneur, and consumer level.”