Today, Congresswoman Lizzie Fletcher (TX-07) voted for H.R. 4521, the America Creating Opportunities for Manufacturing, Preeminence in Technology and Economic Strength (COMPETES) Act of 2022, which includes meaningful investments to surge production of American-made semiconductors and other critical goods, tackle supply chain vulnerabilities, turbocharge the country’s scientific research and technological leadership, and strengthen our economic and national security at home and abroad.  The bill passed the House on a bipartisan basis, 222-210.

“The United States has long been a beacon for excellence in science, technology, and engineering, and so much of that pioneering work is done in our community in Houston,” said Congresswoman Lizzie Fletcher.  “The America COMPETES Act will boost our national investment in research and innovation right here at home and ensure our continued leadership in the world.  It makes important investments to increase domestic production of semiconductor chips, strengthen American manufacturing, increase grid resiliency, and strengthen our supply chains.  I was glad to work on many of its provisions as a member of the House Committee on Science, Space, and Technology, and to cast my vote for this bipartisan bill in the House today.”

The America COMPETES Act makes the following investments in Houston priorities:

Semiconductor Chip Manufacturing

• Creates the CHIPS for America Fund 
  • Funds $52 billion through the CHIPS for America Act, which will incentivize private-sector investments and continued American leadership in semiconductor fabrication and will help address supply chain disruptions and ensure that more semiconductors are produced here at home;

• Provides substantial financial assistance to incentivize investment in the construction, expansion, or modernization of semiconductor facilities and equipment for semiconductor fabrication, assembly, testing, advanced packaging, and research and development, while supporting workforce development by creating jobs with competitive wages; and 

• Invests $2 billion to support critical components, such as chips, in the production of automobiles, consumer electronics like phones, and defense systems.

 Department of Energy Programs to Improve Grid Resiliency and Cybersecurity

• Authorizes $375 million to reduce the vulnerability of the electric grid by establishing a Strategic Transformer Reserve and for the development, testing, and monitoring of critical electric grid equipment; and 

• Reduces our reliance on China by investing in building our nation’s solar manufacturing supply chain; and 

• Keeps our electric grid secure and resilient in the face of evolving cybersecurity and physical security threats.

 Supply Chain Infrastructure 

• Authorizes $45 billion to improve our nation’s supply chains and strengthen our economy and national security by preventing shortages of critical goods and ensuring that more of these goods are made in the United States; and

• Establishes a review process to protect U.S. supply chains from foreign adversaries and to quickly detect supply chain vulnerabilities.

 Strengthening Protections for U.S. Workers and Markets

• Strengthens U.S. trade remedy laws to protect American workers and combat unfair, anti-free market trade practices that distort the global market; and

• Makes clear every company in foreign jurisdictions must comply with U.S. auditing rules or risk being delisted from U.S. stock exchanges.