AISI Applauds Passage of CHIPS Bill

July 28, 2022

WASHINGTON, D.C. –The American Iron and Steel Institute (AISI) today issued the following statement in response to media inquiries on House and Senate passage of the “CHIPS Act” this week:

“We applaud passage by Congress this week of the CHIPS Act. This bill will promote much-needed investment in domestic semiconductor manufacturing so that the microchips that are necessary for many essential products can be made in the U.S. rather than being imported from overseas. In particular, this will help address the chip supply challenges faced by U.S. automakers, thereby boosting the entire automotive supply chain, including the American steel industry. Steel currently makes up about 54 percent of the mass of the average North American vehicle, and the American steel industry is developing and supplying the advanced steel products needed by the American automotive industry as automakers transition to electric vehicles (EVs). We look forward to President Biden signing the CHIPS Act into law in the coming days.”

AISI earlier this week sent a letter to U.S. Senate leadership urging passage of the bill, and also yesterday sent a similar letter to House leadership.

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Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI’s membership is comprised of integrated and electric arc furnace steelmakers, and associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.