The cochairs of the Science and Technology Action Committee (STAC), a non-partisan alliance of non-profit, academic, foundation and business leaders advocating for greater focus and funding of science and technology, issued the following statement on the one-year anniversary of the CHIPS and Science Act being signed into law:
One year ago today, President Biden signed the landmark CHIPS and Science Act into law. This historic, bipartisan achievement marks a huge win for advancing the science and technology priorities that are critical to our economy, national security and way of life.
By fueling new innovations, strengthening domestic supply chains and helping build a robust talent pipeline of STEM workers, this bold investment holds the power to revolutionize the way we live and work and ensure that the next generation of technologies is developed here at home.
But fully securing this bright future requires following through on funding the programs that are essential to the law’s success. To date, the CHIPS and Science Act hasn’t been funded to the levels Congress authorized, and the debt ceiling deal threatens to further undermine the legislation’s ambitious goals.
Last year, Congress and the White House came together to cap off a yearslong bipartisan effort to reignite innovation in the United States and ensure we remain a global leader. Now, both sides of the aisle must continue that great collaboration to unleash the full potential of the law they so diligently worked on to pass.