FACT CHECK: Ted Cruz Voted Against the CHIPS and Science Act

Dallas, TX — As Ted Cruz prepares to host a press conference in Round Rock today on semiconductor chip manufacturing in Texas, it should be noted that Ted Cruz OPPOSED the CHIPS and Science Act. 

Despite Cruz’s “no” vote, the CHIPS and Science Act was supported by Cruz’s fellow Republican Senator, John Cornyn. Congressman Allred joined a bipartisan coalition of Texans – including Cornyn and Representatives Kay Granger and Michael McCaul – to pass this legislation.

More on Cruz and the CHIPS and Science Act:

• Cruz claims he voted against the CHIPS and Science Act because “bad things happen when the Federal government is giving billions of dollars to private companies” – but here are the facts:

• Cruz did support the 25% tax credit for American-based semiconductor manufacturing as a standalone bill. That tax credit ended up in the final passed version of the CHIPS and Science Act, which despite earning broad bipartisan support, Cruz voted against.

• Cruz voted for then-President Trump’s $2.3 trillion tax bill. Ahead of the Trump tax law’s passage, the Washington Post reported that “nonpartisan analyses … show[ed] the bulk of the legislation’s benefits would go to the wealthy and to corporations.” The bill lowered the corporate tax rate from 35% to 21% – a massive and reckless giveaway to corporations that added $1.9 trillion to our nation’s deficit.

• According to CNBC, “[s]ince the $52 billion CHIPS and Science Act was first introduced in 2020, more than 50 new U.S. semiconductor projects have been announced totaling over $210 billion. More than $61 billion of that’s in Texas, with six projects expected to create more than 8,000 jobs.”