Referred to the Committee on Foreign Affairs, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Semiconductor Sovereignty Act directs the Secretary of Commerce to produce a comprehensive report within 240 days on U.S. semiconductor manufacturing and research strategy, examining critical supply chains, manufacturing equipment, raw materials, and the historical movement of production overseas since 1990. The report must assess how offshore semiconductor production affects national security, the economy, supply chains, and U.S. allies, while also evaluating the activities of American citizens working for foreign competitors. Based on these findings, the bill requires the Commerce Department to recommend strategies for discouraging offshore manufacturing, boosting domestic production through tax incentives and subsidies, strengthening government oversight of foreign acquisitions of U.S. semiconductor assets, and improving long-term American competitiveness in the sector. Following the initial report, the Secretary must update Congress annually on whether these strategies remain relevant, submitting revised recommendations as needed. The legislation affects semiconductor manufacturers, researchers, technology companies that have received federal funding under the 2022 CHIPS Act, and foreign entities involved in U.S. semiconductor production.
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