WASHINGTON — Today, global tech trade association ITI applauded the Senate passage of the U.S. Innovation and Competition Act:
"To remain competitive on the international stage, the United States must prioritize and continue to expand its investments in research, development, and technological advancement," said Jason Oxman, ITI President and CEO. "The U.S. Innovation and Competition Act takes important steps to expand U.S. innovation leadership, including key measures to help build a strong ecosystem for developing advanced technologies and creating new jobs in communities across the country. We are pleased that the bill, in particular, provides robust funding for the CHIPS for America Act to boost domestic semiconductor production, which is essential for U.S. economic and national security. We commend Senators Schumer and Young for their bipartisan leadership on this effort and applaud the Senate for prioritizing this critical issue. We urge the administration and Senate to work with the House to act on the measure quickly."