AIA Statement on Senate Passage of Bipartisan CHIPS Act

Arlington, Va. (July 27, 2022) – Today, the Aerospace Industries Association (AIA) President and CEO Eric Fanning issued the following statement after the Senate passed bipartisan legislation to address American economic competitiveness, semiconductor shortages, and reauthorize the National Aeronautics and Space Administration (NASA):

“Today’s action by the Senate on the CHIPS Act comes at a critical time for American competitiveness, and we urge the House to take up the legislation without delay. Strategic investments to address the global semiconductor chip shortage, support American jobs, and strengthen our global leadership in chip technology are important steps forward for our country.

“Continued American leadership in space is also essential to our competitive edge. It is encouraging to see Congress prioritize the enhancement of NASA technology, infrastructure, and workforce in this legislation, while also authorizing key programs including Artemis, ISS extension, sustainable aviation x-plane demonstrators, space nuclear systems, and a wide range of science missions. AIA is committed to continuing to work with Legislators on the full breadth of NASA’s authorizations.”

“While this legislation is an important step forward, the fact that it does not include the reversal of a detrimental research and development (R&D) amortization tax law change is a lost opportunity.  At a time when China is doubling down on R&D incentives and inflation is putting pressure on businesses and our economy, lawmakers must find a way to encourage private investment in innovation before the end of the year.”

 

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