Association of Equipment Manufacturers (AEM) senior vice president of government and industry relations Kip Eideberg issued the following statement on the House passage of the COMPETES Act.

"Passage of the America COMPETES Act moves us one step closer to our goal of strengthening America's supply chains, training the next generation of skilled workers and supporting the future of equipment manufacturing in America," said Eideberg.

"The authorization of $45 billion in grants, loans and loan guarantees to support supply chain resiliency will boost domestic manufacturing of critical goods. The inclusion of the BUILDS Act will ensure that American workers get the training they need to succeed and take on the family-sustaining jobs in the equipment manufacturing industry.

"Although the America COMPETES Act includes some worthy components — including for the CHIPS for America Act to bolster U.S. semiconductor capacity and new tools for supply chain resiliency — the legislation still needs a lot of work. Lawmakers must ensure there is sufficient funding for semiconductor research and development and establish a transparent process for equipment manufacturers to petition for Section 301 tariff exclusions.

"We urge Democrats and Republicans in the House and Senate to expeditiously engage in a formal conference to address areas of concern and produce a durable, bipartisan law that helps equipment manufacturers meet the challenges of the global economy."

For more information, visit www.aem.org.

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