Holding Press Conference at Lear Corporation with Motor & Equipment Manufacturers Association, General Motors, Stellantis, and Ford.

WASHINGTON, D.C. – U.S. Senators Debbie Stabenow (D-MI) and Gary Peters (D-MI) are in Southfield, MI, at this hour on Friday, July 22^nd, to highlight major progress to lower costs and create jobs by bringing chip manufacturing back home. The U.S. Senate is on the verge of passing the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, which Senator Stabenow and Senator Peters have championed. The Senators will be joined by Lear Corporation CEO Ray Scott and Original Equipment Supplier Association President & CEO Julie Fream. 

Chip shortages have drastically reduced the supply of new vehicles and driven up prices. The CHIPS Act includes a provision that Senator Stabenow and Senator Peters secured to create a $2 billion fund to support the domestic production of semiconductor technologies. These are particularly critical for the U.S. auto industry and autoworkers. The provision ensures that semiconductor production that supports critical manufacturing is given priority status, including manufacturing in the automotive sector.