National ACE Praises the Senate Passage of the CHIPS Act

[July 27, 2022 - Washington, D.C.] The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) is encouraged by the recent bipartisan effort in the U.S. Senate to pass the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act. The funding allocated by The CHIPS Act will expand U.S. manufacturing capability of sophisticated chip technology as well as address long standing supply chain challenges that have negatively impacted small business communities. 

Earlier this year, National ACE applauded the efforts of the House and Senate to reach agreements on legislation to address supply chain disruptions, gaps between production and consumption, and economic concerns following the passage of the America COMPETES Act and the U.S. Innovation and Choice Act. 

“National ACE supports bipartisan efforts by the Senate to pass legislation that will help boost domestic manufacturing. Manufacturing reaches into several key industries and the benefits of this bill will extend to small businesses,” said National ACE President/CEO, Chiling Tong. “Asian Americans and Pacific Islanders (AAPIs), who make up 6.8 percent of all manufacturing jobs and 14 percent of the tech industry, stand to gain a competitive edge as a result of the CHIPS Act.” 

National ACE applauds the collaboration on finalizing this crucial legislation. We urge the House to pass this important bill without delay and send it to the President to sign into law.