O'Halleran Votes to Pass COMPETES Act to Keep Prices Down, Promote Made in America Innovation

Statement

Today, Congressman Tom O'Halleran (AZ-01) voted to pass the America COMPETES Act, a legislative package to make new investments in research, innovation, and American manufacturing, ensuring that the United States can outcompete any nation in the world for the coming decades.

"The ongoing COVID-19 pandemic and supply chain bottlenecks incurred by recent surges have had a harmful effect on our nation's economy, highlighting just how dependent we have become on global trade for everyday goods," said O'Halleran. "Our bill makes targeted investments that will incentivize Made in America production, tamp down rising prices at the gas pump and the grocery store, and keep global supply chains moving smoothly."

The America COMPETES Act:

Invests $52 billion in American chip production and semiconductor fabrication
The state of Arizona is home to a massive, growing chip manufacturing industry, providing good-paying jobs and turbocharging the state's economy
Sets aside $45 billion to address issues in our supply chain and recover from issues caused by the COVID-19 pandemic
Makes long-overdue investments in research and development, bolstering 21st-century innovation and manufacturing
Creates a pipeline for domestic manufacturing in the U.S, ensuring that the U.S. reaps more of the economic gains from innovation
According to federal data, since January 2000, the United States has lost over a quarter of all domestic manufacturing jobs, a decline of over 4.7 million.
"Even small price increases make a painful dent for rural and tribal families in our district. That's why I introduced an amendment to this legislation that will ensure these rural and tribal families--like so many in Arizona's First District--are not overlooked," continued O'Halleran. "My amendment tasks the Department of Commerce with publishing a report every four years on supply chain resilience and domestic manufacturing. Understanding how supply chain shocks impact rural, Tribal, and underserved communities is critical for their future growth."

O'Halleran's amendment was adopted.

Watch O'Halleran speak about the bill and his amendment on the House Floor HERE or by clicking on the image below.

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O'Halleran speaks on the House Floor in favor of his amendment to the America COMPETES Act, Friday, February 4, 2022

"While I am pleased to see this legislation pass with my amendment today, I also urge House leadership to act without in delay in collaborating with the Senate, naming conferees, and getting this bill signed into law so American families see changes, fast," said O'Halleran after taking his vote. "The Senate passed their version of this important measure months ago--we must work hard now to bring the final legislation to fruition."

In addition to the bill, O'Halleran also voted in favor of an amendment to commission a study that would measure the economic impact of inflation on the American people, including an analysis of cost-of-living impacts, after the legislation is enacted.

Source