U.S. Senator Todd Young (R-Ind.) issued this following statement after the Senate passed the Endless Frontier Act.
Young
“It’s time to go on the offensive, and that is exactly what this legislation, which has gone by many names – from the Endless Frontier Act to the U.S. Innovation and Competition Act to CHIPS-Plus – will do,” Sen. Young said. “This bill will unleash private sector innovation while significantly boosting federal national security investments. It’s been a long journey to get to this point, but history will show that by passing this bill, we are confronting the challenges of today and building a prosperous and secure tomorrow for all Americans.”
The legislation passed the Senate 64-33 and now heads to the House of Representatives for immediate consideration. Young first introduced the legislation in 2020 and has been working to pass it since then.
Senator Young on Wednesday spoke on the Senate floor about the legislation. Click here to view his full remarks.
Final legislative text is available here, in addition to summaries for the CHIPS and ORAN section, the research and science section, and the energy section. Key provisions from the original Endless Frontier Act were maintained in the final version of this bill, including national security investments in key technology areas and the establishment of regional technology hubs.
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The following are Senator Young’s full remarks as prepared for delivery on the Senate floor:
Mr. President, when it comes to America, I’m an optimist. Always.
I can’t help but approach the future with great hope.
After all, as Americans, we have never let obstacles stand in our way, or accepted that problems can’t be solved.
Our citizens are the world’s most ingenious, our military its mightiest, our economy the strongest, and our innovators the most creative.
The last century was defined by our accomplishments and ideals, and I believe this one will be too.
But this path is not guaranteed.
Now, as then, America’s success depends on unleashing the potential of our people and outcompeting and out-innovating global rivals who do not share our values or economic interests.
Right now, we are in the middle of a great power competition with an authoritarian regime in Beijing that seeks global primacy and rejects democracy.
The Chinese Communist Party is currently investing $1.4 trillion in frontier technologies that will dominate the 21st century – artificial intelligence, quantum computing, and hypersonics, among other key technologies.
Its innovators are earning patents and publishing research in AI at a greater rate than our own. Its schools are producing four times the STEM graduates as America’s, and the CCP’s computer and science universities are regularly outranking ours.
Its military is making advances in cyberwarfare and the development of hypersonic weapons, autonomous vehicles, electronic and cyber warfare, and orbital bombardment systems.
These are the technologies that will dominate the 21st century, economically and militarily.
China’s government is planning on winning the AI race, winning future wars, and winning the future.
And the truth is, Beijing is well on its way to accomplishing these goals. America is at risk of falling behind economically and technologically to a world power that does not value liberty or even respect human life.
So how should we respond?
For too long, when it comes to Chinese aggression, America has relied on a strategy of deterrence – taking steps like blocking Huawei from doing business in the U.S., tightening export controls and improving foreign investment rules.
These are important measures, but no longer enough.
It’s time to go on the offensive.
And that is exactly what this legislation, which has gone by many names – from the Endless Frontier Act to the U.S. Innovation and Competition Act to CHIPS-Plus – will do. Unleash private sector innovation while significantly boosting federal national security investments.
Let me highlight a few specifics.
First, this bill greatly encourages domestic investment in semiconductor production.
Right now, the United States of America is almost entirely reliant on other nations for the high-tech computer chips that power our smart phones, automobiles, household appliances, and military platforms.
The recent shortage of these chips has hobbled our economy and hit our pocketbooks.
For example, a shortage of computer chips forced General Motors to idle its assembly plant in Fort Wayne, Indiana twice this year.
U.S. semiconductor production, once accounting for nearly 40 percent of the world’s supply, has dropped to just 12 percent, while China’s production share is increasing.
Ninety percent of the chips used in our military technology are made overseas. Most are made in South Korea and Taiwan, but an increasing number are produced in China.
This is a very real economic and national security vulnerability.
This bill will reassert America’s place in this industry, and take a giant leap towards ensuring that our supply chain and national defense will never be at the mercy of technology produced overseas.
Another important aspect of this bill is critical applied research funding.
This legislation reforms and invests in the National Science Foundation to partner with the private sector and universities to develop critical emerging technologies that will transform the global landscape.
We know that national success and competitiveness in the 21st Century economy will be built on emerging technologies like quantum computing and AI.
Funding research crucial to keeping Americans safe is one of the federal government’s responsibilities, and this legislation will help us not just catch up with but overtake China in these critical areas.
And this bill will establish regional technology hubs across our country, which will become centers for the research, development, entrepreneurship, and manufacturing of new key technologies.
This is incredibly important at a time when too many Americans in the heartland feel left out and too many areas are overlooked…when only a handful of cities account for nearly 90 percent of job growth in these advanced sectors.
Simply put, this bill will make America stronger, safer and more prosperous.
And it is desperately needed.
How do we know? Because the Chinese Communist Party has actively lobbied against this legislation. They know this bill is bad for China and good for the United States.
This bill is about securing our country, giving our people the tools to flourish, and ensuring America continues its global research role.
It’s been a long journey to get to this point, but history will show that by passing this CHIPS-Plus bill, we are confronting the challenges of today and building a prosperous and secure tomorrow for all Americans.
I urge my colleagues to support this legislation.