March 21,2023

Press Contact:

Ryan Carey

Wyden Statement on Treasury Guidance on CHIPS Act Tax Incentives

Washington, D.C. — Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement:

“When the supply chains for semiconductors broke down early on in the pandemic, it became alarmingly clear that the U.S. needed to launch a revival of chip manufacturing here at home. That’s what I designed the tax incentives in the CHIPS Act to help accomplish, and today’s announcement is a major step forward in the process of rebuilding our domestic production and economic security. Now that the Commerce Department and Treasury are laying out the rules of the road, there’s going to be a race to lock in the huge investments that come with chip manufacturing. It’s essential that the Oregon Legislature act with urgency and boldness to take full advantage of this opportunity and protect our state’s leadership in semiconductors and tech.”