Hoeven: "CHIPS Plus Act" Should Have Been Paid For

WASHINGTON – Senator John Hoeven issued the following statement after voting in opposition to the “CHIPS Plus Act.” The legislation is not paid for, increases federal spending by more than $54 billion over ten years and results in an increase of the national debt of more than $79 billion. 

“At a time when we are facing ever increasing inflation, we need to reign in out-of-control spending and tackle our debt and deficit. I believe we need to do more to manufacture microchips domestically but the right approach is to reduce the tax and regulatory burden, which would not only result in manufacturing more microchips domestically, but also other vital products as well.”