AISI Urges Senate Passage of CHIPS Bill

July 25, 2022

WASHINGTON, D.C. – As the American steel industry is a leading supplier to the automotive industry, the American Iron and Steel Institute (AISI) today urged the U.S. Senate to pass the “CHIPS Act” being debated in Congress this week.

In a letter to Senate Majority Leader Charles Schumer (D-NY) and Minority Leader Mitch McConnell (R-KY), AISI president and CEO Kevin Dempsey said, “Addressing the chip supply challenges faced by U.S. automakers in recent years will also boost the entire automotive supply chain, to which the steel industry is a major supplier. 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). Today we have a unique opportunity to build the entire EV supply chain in the United States, but this requires that we urgently re-shore production of microchips and other important manufactured components.

“The CHIPS Act would promote much-needed new investment in semiconductor manufacturing in the United States. As with steel, domestic manufacturing of microchips is essential to ensuring that the United States maintains a strong manufacturing base, which is essential to our national and economic security,” the letter stated.

A copy of the full letter can be found here.

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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.