The Semiconductor Industry Association (SIA) today commended the launch of the Congressional Semiconductor Caucus. SIA recognized members of the caucus at a reception on Capitol Hill Tuesday evening and honored the caucus’s co-chairs, Sen. James Risch (R-Idaho), Sen. Angus King (I-Maine), Rep. Pete Sessions (R-Texas), and Rep. Zoe Lofgren (D-Calif.).
“Semiconductors form the foundation of America’s technological and economic strength, national security, and global competitiveness,” said John Neuffer, president and CEO, Semiconductor Industry Association. “The Congressional Semiconductor Caucus will provide a venue for Members of Congress and industry professionals to share ideas and work collaboratively to advance policies that preserve and strengthen the semiconductor industry and our country. We applaud Sen. Risch, Sen. King, Rep. Sessions, and Rep. Lofgren for leading the caucus and for their longstanding support of policies that promote growth and innovation.”
Semiconductors are the brains of modern electronics, making possible the myriad devices we use to work, communicate, travel, entertain, harness energy, treat illness, and make scientific discoveries. SIA is the voice of the U.S. semiconductor industry, uniting companies that account for 80 percent of America’s semiconductor production.
The semiconductor industry directly employs nearly a quarter of a million people in the U.S. and supports more than 1 million additional U.S. jobs. In 2014, sales from U.S. semiconductor companies accounted for more than half of the $336 billion in total global semiconductor sales. Semiconductors are America’s third-leading manufactured export, behind aircraft and automobiles. The industry is highly research-intensive, investing one-fifth of revenues in R&D annually – more than any other industry.
“In the semiconductor industry and across the tech sector, innovation is made possible through the hard work and ingenuity of the industry’s scientists and engineers and is aided by smart public policy from the federal government,” Neuffer said. “SIA looks forward to working with members of the Semiconductor Caucus to advance policies that facilitate free trade and open markets, modernize America’s tax system, strengthen America’s technology workforce, advance university research, and protect intellectual property, among other priorities.”