Now, Madam President, the Senate gavels back in for the second week of an exceedingly busy work period. There is a lot we must do quickly to lower costs and improve the lives of American families. On the nominations front, we will continue…
Now, Madam President, the Senate gavels back in for the second week of an exceedingly busy work period. There is a lot we must do quickly to lower costs and improve the lives of American families.
On the nominations front, we will continue confirming as many of President Biden's qualified judges and administrative appointees as possible. Last week, the Senate confirmed our 70th Biden-appointed Federal judge, on a voice vote, and this week we intend to keep going by confirming Judge Michelle Childs, of South Carolina, to serve as a circuit judge on the very, very important DC Circuit.
Very soon, the Senate must also take swift action to pass the PACT Act for a second time in order to correct a technical error that arose in the House. This legislation will be the most important healthcare reform bill that our veterans have seen in years, and there is absolutely no justification--none whatsoever--to delay the swift passage of this bill.
And, most importantly, the U.S. Senate must finish work on one of the most urgent priorities facing this Chamber: addressing the chip shortage that is hurting American consumers, decimating our supply chains, and endangering our national security.
For the information of all, tomorrow, we are going to hold the first procedural vote on legislation to address these critical issues, which both sides have been working on for months. As we speak, Democrats and Republicans are hashing out the final details on a bill so we can move forward this week.
The chip shortage is not some abstract issue; it is impacting the daily
lives of millions of Americans. Cars, refrigerators, and other household appliances require chips to function, but supply shortages mean prices have gone up and up and up for those goods, and Americans have to wait months just to get a hold of them. If you want to help with inflation and get it down, this bill is an important bill to vote for, and we can take a giant step toward fixing this problem if we act now.
Last week, the Secretaries of Commerce and Defense told us plainly that ``our economic and national security depends on our ability to invest in the technologies of today and tomorrow.''
So, again, we need to move quickly.
Right now, some of the most important manufacturers in our country are weighing where to make their investments in semiconductor production. Many of them are holding off on final decisions to see what Congress does, but they are not going to wait around forever.
As one company told the Wall Street Journal, ``Without these incentives [from Congress], the capital investment required for [expanding production] is not economically viable in the United States given other global alternatives.''
Other countries have copied our legislation, and they are offering companies huge amounts of money to locate there, and that, of course, will endanger our security--economic and national. The message is not subtle. If countries do not think it is profitable to make chips here in America, they are going to go somewhere else.
Countless good-paying American jobs are on the line, and billions of dollars in economic activity are on the line. As I said, our national security is at stake. For these reasons, I urge my colleagues to move forward tomorrow.
Of course, as we work on chips legislation this week, I urge my colleagues on the conference committee to continue finalizing the larger jobs and innovation package that both sides have been working on for months.
I want to see this Chamber send a compromise bill to the President's desk because this is so important for the future of our country and for our national security. I have worked for more than a year with Republicans to get a competition and innovation bill done, so I strongly support my colleagues as they keep working.
In the meantime, we must take steps to get chips done as soon as we can. This is about lowering costs, increasing manufacturing, and making sure we are competitive with our rivals abroad.
The 21st century will belong to nations willing to invest in the technologies and innovations of tomorrow. I want to get there first, but to do that, the Senate must act this week.