McCaul praises major semiconductor chip investment deal

U.S. Congressman Michael McCaul (R-Texas) released a statement regarding the announcement that the U.S. Department of Commerce and Texas Instruments have signed a non-binding preliminary memorandum of terms for up to $1.6 billion in direct funding through McCaul’s CHIPS for America Act. The funds will be matched with more than $18 billion in private investment from Texas Instruments, much of which will go toward expanding its semiconductor manufacturing operations in Sherman, Texas.

“I first introduced the CHIPS for America Act at the urging of President Trump’s national security team with a vision of strengthening our national security and bolstering our economy at the same time,” said Rep. McCaul. “Texas Instruments has been a key player in executing that vision by shoring up U.S. production of legacy chips, the brains behind everything from your washing machine to America’s fighter jets. This historic investment in TI — a company with almost a century of history in the Lone Star State — will create thousands of well-paying jobs for Texans, reduce America’s dependence on other nations for critical supply chains, and continue to cement Texas’ leadership in this crucial technology sector.”