The passage of the CHIPS and Science Act is a crucial step in supporting American innovation, enhancing our global competitiveness, and addressing national security concerns. We commend members of both parties for working together to pass this bill.

Federal support for innovation and commercialization of critical, emerging technologies is valuable. The Act is an important milestone that boosts advanced technology research, promotes semiconductor fabrication in the U.S., and enables new approaches to strengthen collaboration with the private sector. IQT, as a leader in microelectronics investing, has emphasized the importance of innovation in this critical technology—including creating platforms for industry, academia, and government to collaborate and accelerate advanced packaging and other next-generation technologies.

We support and are eager for new programs stemming from this bill that can help steer private sector energy and creativity toward technologies central to the United States' economic and national security.