{"database": "press", "table": "releases", "rows": [["https://stanton.house.gov/2024/5/stanton-johnson-introduce-bipartisan-legislation-to-invest-in-nearshoring-of-semiconductor-supply-chain", "Stanton, Johnson Introduce Bipartisan Legislation to Invest in \u2018Nearshoring\u2019 of Semiconductor Supply Chain", "2024-05-21", "2024", "2024-05", "Democrat", "House", "AZ", "Greg Stanton", "S001211", "stanton.house.gov", "stanton", "https://stanton.house.gov/press-releases", "scraper", "WASHINGTON, D.C.\u2014Reps. Greg Stanton (D-AZ) and Dusty Johnson (R-SD) introduced H.R. 8414, theSemiconductor Supply Chain Security and Diversification Act\u2014legislation designed to bolster the development of a regional semiconductor ecosystem in Latin America.\n\nThe bipartisan bill encourages \u2018nearshoring\u2019 of the semiconductor supply chain\u2014relocating business operations to the Western Hemisphere\u2014to combat China\u2019s growing global influence while complementing domestic investments made under the CHIPS and Science Act\n\n\u201cOur CHIPS Act is already investing billions of dollars in Arizona\u2019s microchip manufacturing industry. But we have to address our reliance on China for other critical parts of the semiconductor supply chain, from raw materials to distribution,\u201d Rep. Stanton said. \u201cNot only will our bipartisan legislation offer businesses a compelling economic alternative to China, it\u2019ll boost economic prosperity across Latin America.\u201d\n\n\u201cRelying on China for semiconductors and other critical sectors is risky. We must look elsewhere to keep our supply chains secure and do more to attract and incentivize investments in reliable trading partners. Semiconductors play a significant role America\u2019s economy \u2013 ensuring a stable supply of semiconductors will protect our national security,\u201d Rep. Johnson said.\n\nSpecifically, H.R. 8414 will direct the Development Finance Corporation to invest in \u201cdownstream\u201d (critical mineral mining and processing) and \u201cupstream\u201d (testing and packaging) parts of the semiconductor supply chain in the Western Hemisphere, regardless of the host-country\u2019s income classification. The Development Finance Corporation (DFC) was created in 2018 to counter investments made through China\u2019s Belt and Road Initiative. DFC is a U.S. development agency that invests in privately-led development projects through loans, loan guarantees, direct equity investments, feasibility studies, and more.", 1, "2026-03-30T01:40:41Z", "2026-04-06T18:12:30Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://stanton.house.gov/2024/5/stanton-johnson-introduce-bipartisan-legislation-to-invest-in-nearshoring-of-semiconductor-supply-chain"], "units": {}, "query_ms": 0.7268991321325302, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}