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John Cornyn: “The Chips for America Act...authorized the creation of a…”

Featuring: John Cornyn, Republican | U.S. Senate, Texas

Cornyn Hails CHIPS Successes, Texas Semiconductor Boom

Published June 23, 2026 | Video Starts at 11:42

So back in 2020, I got together with our colleague Senator Mark Warner, a Democrat from Virginia, to introduce the Chips for America Act. The goal of the bill was pretty simple. To restore American leadership in The Chips for America Act...authorized the creation of a CHIPS program at the Department of Commerce. to support all chip making activities along on American soil from R and D to manufacturing. (11:42–11:58)

CLAIM

Asserts that the Chips for America Act authorized a CHIPS program at the Department of Commerce.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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John Cornyn

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“More than 90% of the world's most advanced semiconductors are made other than in the United States, mainly Taiwan and South Korea.”
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“90% of [rare earth magnets] is done in China.”
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“China has cornered the market on raw materials that make up all of our pharmaceutical ingredients.”
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“We didn't make any [masks and gowns] in America. All of it was made in China.”
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“By 2021, [the U.S.] produced 12% of the world's semiconductors.”
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“By 2024, [the U.S.] share represented only 8% of the advanced semiconductors made in the world.”
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“A significant shock to the delivery of chips would have an impact as large as either of the two previous economic recessions in the United…”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 04:40-05:05
“China has a willingness to violate international law and it has a centralized economy.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 06:14-06:22
“China built its empire of industrial inputs on the back of forced labor and diplomatic manipulation.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 07:43-07:51
“China has become the primary buyer of rare earths from mines in the Democratic Republic of the Congo.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 08:21-08:28
“China has enforced strict export controls to maintain their position [in rare earth elements].”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 08:43-08:49
“The Trump administration had already contemplated the issue of chips in this vulnerability before COVID.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 11:01-11:08
“The Chips act became law...and about a year and a half later, it was fully funded by Congress.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 12:19-12:27
“This law provided nearly $40 billion in manufacturing incentives for semiconductors.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 12:30-12:37
“The state law established the Texas Semiconductor Innovation Consortium and the Texas Semiconductor Innovation Fund.”
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“Texas is the second largest semiconductor workforce in the nation totaling more than 42,000 well-paying jobs.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 14:07-14:22
“The Chips and Science act was an important step toward reshoring our critical industries.”
Cornyn Hails CHIPS Successes, Texas Semiconductor Boom | Uploaded June 23, 2026 | 14:44-14:51
“Were it not for the Chips and Science act, we may not have been in a position to help build the artificial intelligence economy.”
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“If we didn't have access to these advanced semiconductors and continue to be dependent on those produced over in Asia, it's doubtful we…”
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“Keeping up with domestic manufacturing and critical technologies like semiconductors is essential to that end [U.S. leadership].”
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