Research development

Governor Spencer Cox and Other Governors Applaud Congress for Passing the Research and Development Act

House Speaker Nancy Pelosi, D-Calif., signs the Chips and Science Act bill, which would subsidize domestic semiconductor manufacturing and invest billions in science and technology innovation, on the Capitol’s West Front American in Washington on Friday. Photo by Bonnie Cash/UPI

July 30 (UPI) – House Speaker Nancy Pelosi on Friday signed the signup to send the $280 billion computer chip manufacturing bill to President Joe Biden’s office to be signed into law. .

The Chips and Science Act, which would provide incentives for semiconductor production and other investments in science and technology, passed the House by a vote of 243 to 187 on Thursday and won was signed by Pelosi on Friday in a ceremony attended by House Democrats. The registered bill is the final copy of a bill or joint resolution that has been passed by both houses of the United States Congress in identical form and has been signed by the appropriate officials of the Senate and the House and submitted to the President for enactment.

“Today our nation takes a monumental step toward equipping our nation to meet and meet the challenges of the 21st century,” Pelosi said at the ceremony.

“With our CHIPS and Science Act, we are sending President Biden bold new investments to lower costs for American families, while protecting their financial future. We are restoring America to the status of world leader in semiconductor production and propelling American science and research for generations to come,” said Pelosi.

A joint statement from Utah Governor Spencer Cox and New Jersey Governor Phil Murphy welcomed the passing.

“Governors applaud Congress for supporting American innovation and global competitiveness by passing bipartisan legislation accelerating research and development in semiconductor manufacturing,” the report said.

“The $52 billion in federal investments for domestic semiconductor research, design, and manufacturing are absolutely critical to our national security and will allow us to close gaps and vulnerabilities in America’s supply chain.”

Biden learned Thursday that the House passed the bill during its meeting with business leaders on the economy and is expected to sign the bill into law. The bill passed the Senate on Wednesday by a vote of 64 to 33.

“As we send this bill to the President’s desk, we do so with great pride, because we passed it on the floor with a 100 percent Democratic vote and at the same time, a strong, bipartisan vote,” said Pelosi.

“And here we send to the president, like we do, Democrats will continue to cut costs, more jobs for America’s future, we will always put people above politics.”

The National Governors Association has since urged Biden “to quickly sign this package into law.”

Once signed, the law will subsidize domestic semiconductor manufacturing while investing billions of dollars in science and technology innovation.

The bill is expected to make the chip supply chain more resilient after experiencing shortages that negatively impacted the economy.

House Republican leaders urged members to vote against the bill, reversing their previous support for it.