WASHINGTON — Representative Pramila Jayapal (WA-07), chair of the Congressional Progressive Caucus, issued the following statement after a meeting the House of Representatives passed the CHIPS and Science Act: 

“Today, Progressives voted to pass the CHIPS and Science Act thanks to Secretary Raimondo’s partnership and transparency with our caucus throughout the legislative process. Over the past week, I engaged in deep and frequent negotiations and conversations with the Secretary to work to address our members’ concerns that this bill would expand domestic manufacturing capacity — and not be utilized as a subsidy for companies to engage in stock buybacks and dividend payouts to enrich wealthy shareholders and executives. As the Secretary made clear this week, ‘This CHIPS money is not a subsidy for companies to make them more profitable or so they have more cash for stock buybacks or to pad their bottom line or to invest in other countries.’

“In addition to the funding for semiconductors, which power everything from innovative technology to our phones and household appliances, this bill will also double the funding for the National Science Foundation, an investment that will make a tremendous difference for universities and research institutions across the country. I would like to thank the Secretary for her principled engagement with me to resolve our members' concerns, and to ensure the strongest implementation of this bill. With Secretary Raimondo’s commitment and continued partnership, we look forward to working together throughout the implementation process.”