Summer deadline looms for $52 billion to boost chip production

Mackinac Island — The final version of Congress' economic competitiveness bill including $52 billion for semiconductor chip production is still amorphous — a delay that's a cause of concern for many of Michigan's state and federal policymakers.

Those leaders are attempting to attract new electric vehicle production to the state while a global chip shortage continues to force automakers to idle plants.

If Congress can't pass the legislation before the end of July, when members go back to their districts and their efforts become trained on re-election this fall, they fear it will continue to impact competitiveness and hamper the economy. 

U.S. Rep. Haley Stevens, D-Waterford Township, serves on the committee, along with U.S. Rep. Dan Kildee, D-Flint Township, Sen. Gary Peters, D-Bloomfield Township, and more than 100 other members of Congress. 

Stevens said she's "cautiously optimistic" the legislation can be finished by July 4, but "it's a question of what becomes an ultimatum for some members" whether that deadline could be met.

"There's a real urgency. I worry about the signals that this sends to markets if we don't get this legislation passed," Stevens said. "While the legislation doesn't solve the chip shortage, it certainly sends a lot of certainty into the marketplace. Not sending that message of certainty would be reckless."