As Summer Comes To A Close, Leaders In Washington Act
Randy Wolken, President & CEO

Recently, two significant actions took place with our federal leaders. First, President Biden signed the long-awaited CHIPS and Science Act, and Congress passed the Inflation Reduction Act. These two efforts are likely to impact manufacturing and our members.

MACNY has long supported the adoption of an effort to bring semiconductor chip manufacturing back to the U.S. We have seen before and during the pandemic just how devastating it has been to have so much of the world’s chips made outside of the United States. Critical products using chips, along with our national security needs, must be supplied by domestic semiconductor manufacturers. This week’s culmination of the effort puts our country in a much better position to meet this vital need.

New York State should soon feel the impact of the signing of the CHIPS and Science Act. It will help secure multiple commitments from semiconductor chip makers and their supply chain companies. It also seems likely that a significant research investment will occur in Albany. Together, these efforts could be some of the most considerable manufacturing investments seen in recent history in New York State. A more detailed description of what is in the signed legislation can be found by clicking here. This summary describes all the elements of the bill and provides additional details on its specific characteristics.

Also, this week Congress passed the Inflation Reduction Act. The bill could impact manufacturing and business in multiple ways. I have included a summary of its elements provided by the National Association of Manufacturers (NAM), so you can better understand what was in the bill and how it relates to manufacturing. Click here to review the summary.

Lastly, as we make our way through the final days of summer, I wanted to take a moment to remind you that we are excited to be offering our members several in-person events in the coming months. We’ll wrap up summer with our Annual Clambake on August 24, and our Annual Fall Kickoff is coming up on September 22. On September 29, we will be hosting a Cybersecurity Summit and our annual Live2Lead event will take place on October 28. We will soon be releasing more details about our Annual Legislative Breakfast being held on October 11. These events provide excellent opportunities to see each other again and catch up on how we can work together.

Overall, it appears to be an excellent time to make products in New York State. Although there will certainly be challenges, we at MACNY will work with you to tackle them. So please let us know what we can do to help. Our team stands by, ready and willing to do so.