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Washington, D.C. — U.S. Senator Marco Rubio (R-FL) released a statement warning companies that would receive federal grants for semiconductor manufacturing under the CHIPS for America Act to avoid stock buybacks and outsourcing American jobs to other countries.
“The CHIPS Act will help revitalize America’s lagging semiconductor industry and protect against future supply chain disruptions,” Rubio said. “Any company that accepts that taxpayer funding should be prohibited from using it to buy back their own stock or move American jobs overseas. If taxpayers are going to invest in these companies, then these companies need to put America’s national and economic security first.”
“Unfortunately, some view CHIPS funding as a way to force their woke agenda on American companies,” Rubio continued. “We need to keep focused on revitalizing this critical industry, creating American jobs, and advancing the national interest, not advancing partisan political priorities.”
The Motion to Instruct Conferees offered by Senator Bernie Sanders (I-VT) would have instructed conferees to include language in the conference report on H.R. 4521 to place certain conditions on companies receiving federal grants for semiconductor manufacturing under the CHIPS for America Act. Among those restrictions were radical labor provisions that mirror the Democrat’s partisan PRO Act.
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