S. 3309 would direct the Department of Commerce (DOC), through its SelectUSA program, to solicit comments from state economic development organizations about how to support foreign direct investment in semiconductor production. The bill also would require the department to report to the Congress on the comments and strategies that SelectUSA may implement to increase such investment.
Using information from DOC, CBO expects the department would need two employees and six contractors over the 2022-2024 period to carry out the comment solicitation process and complete the required report. On that basis, CBO estimates that implementing S. 3309 would cost $4 million over the 2022-2026 period; such spending would be subject to the availability of appropriated funds.
