On Sunday, former House Speaker Nancy Pelosi defended the Biden administration’s CHIPS and Science Act, arguing that the law strengthened U.S. manufacturing, created jobs and boosted American innovation.
Pelosi Defends Biden’s CHIPS Act
In a post on X, Pelosi said, "Four years ago, President Biden signed the CHIPS and Science Act into law—creating good-paying jobs and supercharging American innovation."
She accused President Donald Trump of having "attacked those investments" and said Democrats would continue supporting policies aimed at expanding domestic manufacturing.
"Democrats remain committed to strengthening manufacturing and keeping America competitive," Pelosi said.
Four years ago, President Biden signed the CHIPS and Science Act into law—creating good-paying jobs and supercharging American innovation.
— Nancy Pelosi (@SpeakerPelosi) August 9, 2026
While Trump has attacked those investments, Democrats remain committed to strengthening manufacturing and keeping America competitive.
The CHIPS and Science Act, signed into law in August 2022, allocated $39 billion for U.S. semiconductor manufacturing grants and $11 billion for chip research as the Biden administration sought to strengthen the domestic industry.
Read Also: A Manufacturing Boom Is Here: Is The Driver Trump's Tariffs Or AI?
CHIPS Act Boosted Jobs, Security
Sen. Mark Kelly (D-Ariz.) credited the CHIPS and Science Act with creating well-paying jobs in Arizona and strengthening national security.
Today is the 4th anniversary of the CHIPS and Science Act — a law I worked really hard on for Arizona and for our country. It's created a lot of great-paying jobs for Arizonans and strengthened our national security. I'm excited to see it continue to pay off. pic.twitter.com/Ox6C92WtAQ
— Senator Mark Kelly (@SenMarkKelly) August 9, 2026
Rep. Jared Moskowitz (D-Fla.) highlighted the law’s role in expanding U.S. semiconductor manufacturing and securing more than $1 million for FAU’s Chip Design Hub to train future chip engineers.
Four years ago, the CHIPS and Science Act was signed into law. It was a powerful first step towards bringing semiconductor manufacturing home, but it was never meant to be the last.
— Congressman Jared Moskowitz (@RepMoskowitz) August 9, 2026
I'm proud to keep building on that promise by making sure it happens in South Florida. Earlier… pic.twitter.com/loDodSqi9G
$874 Million CHIPS Act AI Push
Last month, the Commerce Department signed preliminary agreements to provide $874 million in CHIPS Act incentives to seven companies developing semiconductor technologies for AI and high-performance computing.
GlobalFoundries Inc. (NASDAQ:GFS) was set to receive up to $300 million, Kepler up to $245 million and Multibeam Corporation up to $140 million.
Four other companies would receive $30 million to $75 million each.
The funding was aimed at strengthening U.S. semiconductor supply chains and advancing AI memory, chip packaging, photonics and low-power computing.
US Manufacturing Boom
Earlier this month, the U.S. manufacturing sector showed signs of renewed strength, with the ISM Manufacturing PMI rising to 55.6 in July, while production and employment also expanded.
Earlier, Wall Street financier Steve Rattner noted that manufacturing had lost about 113,000 jobs since November 2024, despite tariff-driven reshoring efforts.
Meanwhile, Anthony Pompliano called the trend a "manufacturing boom," while The Kobeissi Letter warned of potential stagflation pressures.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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