Indy Standard

U.S. Senator Todd Young highlighted the positive effects of the CHIPS and Science Act on the U.S. economy and competitiveness during a Senate Finance Committee hearing titled “American Made: Growing U.S. Manufacturing Through the Tax Code.” The discussion focused on how the legislation has impacted the semiconductor industry since it became law in 2022.

Senator Young emphasized that over $240 billion in private sector investment has been announced for producing foundational and leading-edge microchips. He remarked, “The CHIPS and Science Act also established the Microelectronic Commons program, under which my state of Indiana has been designated the leader of the Silicon Crossroads Microelectronics Hub.”

Young explained that this regional partnership aims to speed up advanced microchip prototyping, enhancing private investments to maintain a competitive edge in semiconductor design—a critical aspect of national security. He noted, “This and other partnerships have already drawn more than two billion dollars in publicly-announced private investments into the state of Indiana alone. Great things are being made in Indiana thanks to the passage of the CHIPS and Science Act.”

A video of Senator Young’s remarks is available online.