Sen. Cruz expressed his enthusiasm for the CHIPS Act projects in Texas, despite voting No on the bill. He believes that once the bill becomes law, Texas will benefit from the funding and investments for semiconductor manufacturing, processing, and research facilities.
, which offered a 25 percent tax credit for investments to build a semiconductor manufacturing, processing, or research facility. Much of that bill was rolled into the CHIPS Act with billions in funding. A FAB is a semiconductor fabrication plant.
Tuesday, Cruz toured the Dallas County Inland Point. That facility just received a $1 million grant from the National Science Foundation to become an"innovation engine." Recent graduates and staff from a collection of local universities to work on cyber security, automation, and electrification. If the project is successful, the National Science Foundation could pump in up to $160 million over the next 10 years.
Cruz also teamed up with U.S. Sen. Mark Kelly to speed up the construction of new facilities. He attached a measure to the National Defense Authorization Act by removing some environmental reviews in the construction process. Part of the National Environmental Policy Act makes project managers study other more environmentally friendly options along with a public comment period. It significantly lengthens the amount of time to build a new facility.
As a ranking member of the Senate Commerce Committee, Cruz has a key role in overseeing funds distributed across the country, including those from the CHIPS Act.
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