The COVID pandemic laid bare key vulnerabilities in our supply chains. A global shortage in semiconductors, which are currently mostly made overseas, shuttered manufacturing lines in key industries and slowed delivery of essential products.
A future chip shortage could have a devastating economic impact ― or worse, compromise our national defense. Our country’s share of global semiconductor manufacturing has declined from 37 percent in 1990 to 12 percent today. The only way to address this economic and national security risk ― and spur the creation of American jobs ― is to increase domestic semiconductor manufacturing capacity. The need is urgent and requires the private sector and government to cooperate.