Majority Leader Schumer Floor Remarks On The CHIPS And Science Act Driving Another Historic Investment And Record Job Growth Under President Biden And Senate Democrats

Washington, D.C. –  Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on historic investments made possible by the CHIPS and Science Act and other vital legislation passed by Senate Democrats and on the significant economic progress made under the leadership of President Biden and Senate Democrats. Below are Senator Schumer’s remarks, which can also be viewed here:

Last week, Americans learned that the economy added a whopping 300,000 jobs in the month of March, blowing past most expectations and proving yet again that under President Biden and Democrats, the economy is on the right track.

Our economy has now added a record 15 million new jobs – 15 million new jobs – since President Biden took office, the greatest turnaround of any President in all of our history. Last year alone, the economy created more jobs than in any year of the Trump Administration.

Across the country, manufacturing and job creation is surging. Just yesterday, the President and Secretary Raimondo announced a preliminary deal with the TSMC Arizona company to provide billions in CHIPS and Science incentives that will support over $65 billion in private investment, to build three leading chip fabs in Arizona.

So, let the good news ring from coast to coast: the CHIPS and Science Act – which I worked hard on to pass here in the Senate, along with Senator Young, bipartisan – is delivering on its promise to create jobs, increase innovation, bring manufacturing back to America, and revive forgotten corners of the country.

And just like the announcements of GlobalFoundries, Intel, and others, this week’s announcement means new jobs, new economic activity are on their way. And there is yet more to come, with further investments in projects like Micron’s proposed $100 billion project in Upstate New York.

The CHIPS and Science Act – along with the infrastructure law, the Inflation Reduction Act, and the American Rescue Plan – we Democrats made historic investments in American manufacturing and workers. And it’s now clear, very clear, that these investments are paying off, even more largely than most people thought.

So, while House Republicans spent a lot of energy recently attacking women’s choice, calling for cuts to Social Security and raising the retirement age, Democrats are proud of what we’ve done: we’ve created jobs. We’ve lowered costs. And we’re bringing manufacturing – good manufacturing, good-paying jobs – back to our shores.

So, thank you to my colleagues who worked with me on CHIPS and Science, including Senators Kelly, and Brown, and Cantwell, and Wyden, and Warner, and many more. There is a lot of work to do. The economy still needs help and we can’t let up. But America is certainly headed in the right direction.

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