The America COMPETES Act is An Important Step Toward Strengthening AAPI Small Businesses & Competitiveness
FOR IMMEDIATE RELEASE
Contact:
Daniel Oliver (doliver@nationalace.org)
The America COMPETES Act is An Important Step Toward Strengthening AAPI Small Businesses & Competitiveness
[Washington, D.C. February 4, 2022] - The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) is encouraged by the passage in the House of Representatives of the America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength Act of 2022 (America COMPETES Act). This bill strengthens U.S. supply chains and boosts capacity to produce American made semiconductors, a welcomed development amid recent supply chain challenges.
AAPIs are well represented in the manufacturing and tech industries and stand to gain a competitive edge in global markets with the passage of America COMPETES (as of 2017, AAPIs made up 6.8% of all manufacturing jobs and 14% of the U.S. tech industry). “The America COMPETES Act, and its Senate counterpart (which passed in June 2021), the U.S. Innovation and Choice Act (USICA), are inclusive of several provisions that will make America’s small businesses more competitive in global markets,” said National ACE President and CEO, Chiling Tong. “We hope Congress can meet this moment with bipartisan consensus as America’s small businesses cope with their pandemic recovery and supply chain disruptions.”
National ACE supports the quick efforts by the Senate and House to conference these bills and advance a final piece of legislation that can be supported by both chambers and sent to the President for signature.
Read the PDF here.