Speaker of the House of Representatives Mike Johnson took back a statement he made Friday at a rally in Syracuse, New York, suggesting that the CHIPS and Science Act could be repealed if the Republican Party takes full control of the government would acquire.

Johnson said he expects Republicans will “probably” repeal the CHIPS Act, which President Joe Biden signed into law in August 2022. He added: “But we haven’t developed that part of the agenda yet.” The question was asked on the sidelines of the meeting by Luke Radel, a student journalist at Syracuse University.

Johnson continued: “What we are against in that bill is that there is too much in it. If you leave out the Green New Deal, you will save trillions of dollars in the long run.”

But later in the day, he issued a statement saying that “the CHIPS Act is not scheduled for repeal.”

“Rather, legislation could be introduced to further streamline and improve the bill’s primary goal – eliminating costly regulations and Green New Deal requirements,” Johnson said.

GOP Rep. Brandon Williams, who spoke alongside Johnson at the rally, said in a statement he shared with Radel that the speaker “apologized profusely” for misspeaking at the rally while speaking “privately” after the event.

“He has clarified his comments on the spot and I trust the local media will report his full comments on supporting the repatriation of chip production to America,” Williams added.

Newsweek contacted Johnson’s office via email for additional comment.

What is the CHIPS and Science Act?

The CHIPS and Science Act, which passed with bipartisan support, was intended to boost domestic semiconductor manufacturing amid growing national security and economic concerns about dependence on foreign manufacturers. Since its signing, the law has spurred major investments in U.S. chip manufacturing facilities, with the aim of increasing U.S. technological competitiveness and reducing dependence on Asia, especially in the wake of ongoing tensions between the U.S. and China.

Johnson’s initial comments sparked some criticism as semiconductor manufacturing is seen as a priority by both sides, especially given recent supply chain disruptions. Micron Technology, one of the world’s leading semiconductor makers, announced a $100 billion investment to build a chip factory in upstate New York, citing support from the CHIPS Act as the main motivation for its decision. These developments underscore how the CHIPS Act has already begun to pull technology investments back into the US and support regional economies.

DNC spokesperson Alex Floyd said Newsweek Friday: “Just days after MAGA Mike Johnson confirmed that Republicans plan to launch a ‘massive’ new attack on the Affordable Care Act, he now admits that a Republican-controlled Congress under Donald Trump and JD Vance will spend billions in would revoke funding provided by Republicans. The Biden-Harris administration boosting jobs and innovation across the country makes it clear that our country cannot risk a second Trump term.

What have Kamala Harris and Donald Trump said about the CHIPS Act?

During a recent visit to Michigan, Vice President Kamala Harris emphasized the importance of the law, stating, “Semiconductors are the backbone of modern technology.” Harris explained that the goal of the CHIPS Act is to address long-standing supply chain problems by securing essential components for items ranging from cars to smartphones domestically, according to NPR.

Meanwhile, former President Donald Trump criticized the CHIPS and Science Act on Friday during a wide-ranging interview on The Joe Rogan Experience. “That chip deal is so bad,” Trump said on the podcast, arguing that the subsidies mainly benefited “rich corporations” and not the needs of American workers.

He went on to say that if he had been in charge, he would have used tariffs to incentivize companies to build manufacturing facilities in the United States instead.

Update 1/1/24 7:22 PM ET: This article has been updated with additional information.