WASHINGTON Reuters - U.S. Commerce Secretary Gina Raimondo said on Tuesday that efforts in Congress to approve $52 billion to expand U.S. semiconductor manufacturing could slip into 2022.
Raimondo is still pushing for funding from the U.S. to address the chip supply crisis that has cut auto production and impacted other industries. She said senior lawmakers are committed to addressing the issue.
If it doesn't get done, we're going to go at it again on January 1, Raimondo told reporters at a joint press conference with European Commission Executive Vice President Margrethe Vestager. The only reason it wouldn't happen is that they have an incredibly busy docket and there are only a few legislative days left.
Business leaders are increasingly pessimistic about Congress' ability to reach an agreement on chips funding before they leave for the holidays.
On November 17, House and Senate leaders said they would reach a final agreement on a bill to boost U.S. technology competitiveness with China and semiconductor manufacturing.
The Senate passed legislation in June that would grant $52 billion for semiconductor manufacturing and authorize $190 billion to strengthen U.S. technology and research.
Representative Eddie Bernice Johnson, who chairs the House Science, Space, and Technology Committee, said she backs funding but said that a one-time infusion of funding won't be enough to maintain U.S. leadership in microelectronics innovation. Representative Frank Lucas, the top Republican on the panel, said lawmakers have been ready to go for months. We need time to address our future domestic chip needs. We need to act now because we know our competitors aren't waiting.