LANSING, Mich. (WLNS) – Supply chain issues have been plaguing the U.S. economy for well over a year now in Michigan.
The automotive sector is especially impacted.
This week, The Capitol Rundown caught up with U.S. Deputy Secretary of Commerce Don Graves.
In this week’s Rundown, he tells us how The Innovation Act will help address inflation.
“Right now we are not producing enough semiconductors, enough microchips here in the US. The chips that power our cell phones, our cars, our appliances, that go into our business equipment, the equipment that our farmers use. That’s led directly to an increase in prices,” said Graves.
“The rise in inflation is a direct result of the lack of chips because… we can’t make enough cars. Ford had to shut down some of its plants, some of its lines because they didn’t have enough chips. So by passing this legislation, getting it to the president’s desk… it gives us the ability to make investments that will allow us to produce more chips here right in the United States,” he explained.
To catch Graves’ full interview with The Rundown, check out the video player above.