Can Congress help with semiconductors?

America faces a serious economic and national security risk when it comes to the development and manufacturing of semiconductor chips that are integral to daily life in the modern world.

A strong bipartisan majority of Congress understands this and has rightly acted to boost the semiconductor industry domestically. But the job isn’t done.

In most circumstances, we are skeptical of government directly subsidizing industry with cash infusions. In this case, it is essential to the nation’s future and to global security for democracies.

The problem is getting the funds appropriated strategically and with adequate speed to make a difference in the supply chain. It’s important that Congress sends a message that it is capable of putting up the money to support a vital American interest.

The economic problem is easy enough to understand. Anyone who has tried to purchase a car lately has encountered the high price of disruptions to the semiconductor supply chain.

The national security problem is perhaps less obvious. Semiconductor manufacturing is largely based in Taiwan and South Korea, which are under persistent threat. We need to protect and support our democratic allies. But we also need to ensure we have the capability to produce this vital product at home.

Congress gets a lot wrong. So far, it has gotten this right. But the time to deliver is now.