Bernie Moreno Voting Record — U.S. Senate, OH

May 21, 2026press_release_senate

Moreno, Sheehy Urge Regulators to Investigate Webster-Santander Acquisition Over Security Concerns - Senator Bernie Moreno

Position: Senators Moreno and Sheehy urge federal banking regulators to investigate the proposed acquisition of Webster Financial Corporation by Banco Santander, citing concerns about Spain's geopolitical reliability, sanctions enforcement record, and anti-money laundering compliance, and argue the merger should not proceed without assurances that U.S. financial system interests are protected.

WASHINGTON – Today, Senators Bernie Moreno (R-Ohio) and Tim Sheehy (R-Mont.) sent a letter to United States banking regulators expressing concerns about the proposed acquisition of Webster Financial Corporation by Banco Santander. To protect the American financial system, the Senators argue that regulators should investigate this merger, citing Spain’s track record as an unreliable geopolitical ally, questions about Spain’s record enforcing sanctions against foreign adversaries, and past anti-money laundering failures. “This proposed merger should not proceed unless and until U.S. regulators are fully satisfied that Santander’s governance, compliance culture, and technical controls meet the highest possible standard to protect the American financial system,” the Senators wrote. “Absent that assurance, this transaction could put the interests of a foreign banking group ahead of the stability and prosperity of American workers. Approving an acquisition that shifts financial power away from American communities, without absolute guarantees that our interests will come first and our laws and regulations will be strictly upheld, would be a grave error.” Read the full text of the letter HERE or below. The Honorable Todd Blanche Acting Attorney General U.S. Department of Justice 950 Pennsylvania Avenue, NW Washington, D.C. 20530 The Honorable Jerome Powell Chair Pro Tempore Board of Governors of the Federal Reserve 20th Street and Constitution Avenue, NW The Honorable Jonathan Gould Comptroller of the Currency Office of the Comptroller of the Currency 400 7th St. SW Washington, D.C. The Honorable Travis Hill Chair The Federal Deposit Insurance Corporation 550 17th Street, NW Washington, D.C. Dear Attorney General Blanche, Chair Powell, Comptroller Gould, and Chair Hill, We write today with concern over a pending bank acquisition of Webster Financial Corporation (“Webster”) by Banco Santander, S.A. (“Santander”). Under the deal’s terms, announced earlier this year, the $84 billion-asset Connecticut-based bank, Webster, would become a wholly owned subsidiary of Santander. Santander, founded in 1857 and headquartered in Spain, is one of the largest commercial banks in the world by market capitalization. The Webster acquisition would make Santander a top-10 retail and commercial bank in the U.S. by assets, with about $327 billion in assets, and a top-five deposit franchise in the Northeast U.S. Santander is widely recognized as Spain’s flagship global bank, celebrated by Spain’s leadership and presenting itself as a bridge between Spain, Latin America, and the United States. While Santander’s U.S. operations are organized under Santander Holdings USA, a U.S. intermediate holding company and wholly-owned subsidiary of Madrid-based Banco Santander S.A., supervised by U.S. regulators, they remain ultimately controlled by the foreign parent. In the current geopolitical environment, ceding control over U.S. deposits, data, and credit decisions to Spain’s premier bank raises questions that warrant careful regulatory scrutiny—particularly given that Spain has not always acted as a reliable ally in advancing U.S. security priorities. In public comments, Santander’s Executive Chair emphasized that the acquisition in question would create “a single bank” controlled from Madrid as part of Santander’s global group. This is more than a simple business transaction: allowing a foreign bank to consolidate control over a critical regional lender would tie the economic health of American communities to decisions made abroad. This dynamic risks leaving American workers and businesses exposed to decisions driven by a foreign entity rather than domestic needs and priorities. This concern is amplified by Santander’s recent history with Iran-related sanctions risk. In 2024, Iran was caught using British shell companies to secretly move money through accounts from China to accounts at Santander UK, in service of a U.S.-sanctioned, state-owned petrochemical company that has raised “hundreds of millions” of dollars for the Islamic Revolutionary Guard Corps Quds Force and works with Russian intelligence agencies. Santander did not comment extensively on the client relationships, but said it was “highly focused on sanctions compliance.” Even if Santander now claims its internal review found “no breach” of U.S. sanctions, the fact remains that Iran’s state apparatus and intelligence networks were able to exploit Santander’s systems to help finance a murderous, anti-American regime’s Revolutionary Guard and its Russian partners. If Iranian front companies were able to route sanctioned funds through a seemingly innocuous Santander account in the United Kingdom, U.S. financial regulatory authorities must investigate whether Santander’s existing and future U.S. operations, including any merged institution that holds significant American deposits, are safe against similar exploitation. Spain is also a major European center of money laundering activities, as well as a noted gateway for illicit narcotic activity to enter Europe from Central and South America. In 2023, reporting uncovered that anti-money laundering procedure failings allowed Beltcastle, a financial intermediary with well-established links to the Cali Cartel and other Colombian narco-trafficking groups, to bank with Santander UK. Santander’s judgment in auto-related finance also raises serious questions: its exposure to disgraced auto-parts supplier First Brands and affiliated companies has reportedly grown to around $300 million after the company defaulted on a roughly $230 million loan from Santander. Santander’s decision to expose itself to the First Brands fraudsters to the tune of hundreds of millions heightens our unease around Santander’s expansion in the U.S. This proposed merger should not proceed unless and until U.S. regulators are fully satisfied that Santander’s governance, compliance culture, and technical controls meet the highest possible standard to protect the American financial system. Absent that assurance, this transaction could put the interests of a foreign banking group ahead of the stability and prosperity of American workers. Approving an acquisition that shifts financial power away from American communities, without absolute guarantees that our interests will come first and our laws and regulations will be strictly upheld, would be a grave error. We appreciate your dedication to safeguarding our financial system from all manner of threats and vulnerabilities, and we respectfully request a thorough investigation of this merger and its potential negative consequences before any approval is granted. BERNIE MORENO United States Senator TIM SHEEHY United States Senator SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

economy

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May 12, 2026press_release_senate

Moreno Statement Following Trump’s Call for Passage of Housing Legislation, Institutional Investor Ban - Senator Bernie Moreno

Position: Senator Moreno supports passage of the 21st Century ROAD to Housing Act, which includes a ban on institutional investors purchasing single-family homes.

WASHINGTON –Today, Senator Bernie Moreno (R-Ohio) released the following statement after President Trump called for the passage of the 21st Century ROAD to Housing Act and thanked him for his work in securing the ban on institutional investors purchasing single family homes in the legislation. SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

housing

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May 11, 2026press_release_senate

Moreno Statement on Banking Lobbyists Attempt to Kill Financial Innovation - Senator Bernie Moreno

Position: Senator Moreno opposes banking industry lobbying efforts to block cryptocurrency legislation, characterizing such opposition as an attempt to prevent financial innovation that would benefit consumers.

WASHINGTON – Today, Senator Bernie Moreno (R-Ohio) released the following statement after banking lobbyists attempted to kill the Senate Banking Committee’s vote on landmark crypto legislation this week. The banking lobby is trying to distort reality and prevent valuable innovation that will help hardworking Americans maximize their finances. SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

technology

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April 29, 2026press_release_senate

Moreno Demands Investigation, Denaturalization After Illegal Immigrant Trucker Kills 3 in Ohio - Senator Bernie Moreno

Position: Senator Moreno calls for investigation into an illegal immigrant who killed three people in Ohio and demands denaturalization proceedings, arguing that stricter immigration enforcement and licensing oversight are necessary to prevent such tragedies.

WASHINGTON – Today, Senator Bernie Moreno (R-Ohio) sent a letter to Department of Transportation (DOT) Secretary Sean Duffy and Department of Homeland Security (DHS) Secretary Markwayne Mullin calling for an investigation into an illegal immigrant who killed a family of three in Ohio after obtaining a commercial driver’s license (CDL) under a false identity. Senator Moreno also called on Secretary of State Marco Rubio to initiate the immediate denaturalization of Ngom if it is determined he fraudulently obtained U.S. citizenship. “These needless tragedies are avoidable with staunch enforcement of our immigration laws,” wrote Senator Moreno. “Fortunately, President Trump has taken historic steps to remove illegal aliens from our nation. We must choose the safety of American families over those who spit in the face of our laws and customs. When that responsibility is neglected, the consequences are measured in American lives. If we cannot protect our own citizens from fraudsters, then our immigration and licensing regimes are not just broken they are complicit.” Read the full text of the letter HERE or below. The Honorable Sean Duffy Secretary The Department of Transportation 1200 New Jersey Avenue, SE Washington, DC 20590 The Honorable Markwayne Mullin Secretary The Department of Homeland Security 2702 Martin Luther King Jr. Ave. SE Washington, DC 20528-0525 Dear Secretaries Duffy and Mullin, Thank you for your leadership at the Department of Homeland Security and the Department of Transportation, and for your continued commitment to protecting the American people. I write today to bring your attention to an inexcusable failure of our immigration and commercial licensing systems, which led to the tragic death of an Ohio family. In early April, Modou Ngom triggered a deadly chain-reaction crash on I-71 in Delaware County, Ohio, killing a family of three and injuring several others. Ngom, who was driving a 2006 tractor-trailer, is an illegal immigrant who entered the country unlawfully, falsified his identity, lied to immigration officials to achieve naturalization, fraudulently obtained a Commercial Driver's License ("CDL"), and established a trucking company on false pretenses. Simply put, he is a criminal and should never have been in the U.S. in the first place. According to the Ohio Department of Public Safety, Ngom first came to the United States in the 1990s and thereafter used several different names and birth dates to obtain both state and federal IDs. Investigators say that around 2003, Ngom illegally obtained a new Ohio driver's license under a different identity, followed by a CDL in 2007 under the false identity, and was ultimately naturalized as a U.S. citizen in the mid-2010s using the same fake identity. State records then show that he changed his name from his alias, Lamine Gaye, back to Modou Ngom. This case is not an isolated administrative failure—it is a systemic breakdown with fatal consequences. An innocent family, including a one-year-old child, lost their lives because an illegal alien was able to evade enforcement and operate a commercial vehicle. This same individual had prior safety violations under Ohio Revised Code § 4513.02, including operating an unsafe vehicle just last year. When the federal government turns a blind eye and fails to police its own borders, it is innocent American families on Ohio roads who pay the ultimate price. It is no surprise to me that this man was not apprehended under the Biden Administration. Nonetheless, lessons must be learned from this preventable tragedy. I applaud the swift work of our municipal justice system, which, on April 16th, indicted this heinous criminal on counts of vehicular homicide and vehicular assault. However, accountability must extend beyond the sole prosecution of Ngom. The Department of Justice should bring all appropriate federal charges against Ngom, including, potentially, immigration fraud, false statements, and identity-document crimes. I also encourage the Department of State—if it is determined that Ngom procured U.S. citizenship through fraud or willful misrepresentation—to initiate denaturalization consistent with federal law. We also need to fake a hard look at driver standards in our national freight and trucking industry. Every time we allow a cursory identity check to substitute for a complete vetting process, we roll the dice with American lives. It is outrageous that honest truckers follow the rules while criminal aliens game the system and operate 80,000-pound vehicles that are capable of mass harm on our highways. These needless tragedies are avoidable with staunch enforcement of our immigration laws. Fortunately, President Trump has taken historic steps to remove illegal aliens from our nation. We must choose the safety of American families over those who spit in the face of our laws and customs. When that responsibility is neglected, the consequences are measured in American lives. If we cannot protect our own citizens from fraudsters, then our immigration and licensing regimes are not just broken they are complicit. This situation is alarming for many reasons, and I urge your departments to investigate this case. I also respectfully request that you provide m y office with an update on this matter and answers to the following questions within thirty days: Thank you for your prompt attention to this matter and for everything you do to keep America safe. BERNIE MORENO United States Senator The Honorable Marco Rubio Secretary The Department of State 2201 C St. NW Washington, DC 20451 The Honorable Todd Blanche Attorney General The Department of Justice 950 Pennsylvania Avenue NW Washington, DC 20530 SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

immigration

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April 29, 2026press_release_senate

Moreno, Slotkin Bill to Ban Chinese Vehicles, Connected Components From U.S. Market - Senator Bernie Moreno

Position: Senators Moreno and Slotkin introduced legislation to ban Chinese-manufactured vehicles and Chinese-developed connected vehicle technologies from the U.S. market, citing national security and economic security concerns related to the auto industry.

WASHINGTON – Today, Senators Bernie Moreno (R-Ohio) and Elissa Slotkin (D-Mich.) introduced the Connected Vehicle Security Act of 2026 to defend the American auto industry from the existential threat of predatory Chinese automobiles by banning them and their connected components from the American market. This bill would prohibit the import, sale, and operation of vehicles manufactured in China—or any other country of concern—and ban the use of Chinese-developed connected vehicle technologies, such as software, and data systems on American roads. “The American auto industry is the backbone of the American industrial economy, we cannot afford to make the same mistakes globalists have made for decades and see these great American companies devastated by predatory and massively subsidized Chinese state enterprises hellbent on the destruction of our economy,” said Senator Moreno. “As Europe, Mexico, and others allow their markets to be overrun by Chinese predators, the U.S. must act before it’s too late. The answer is simple: Chinese vehicles can never be allowed into the U.S. market—the fate of the American auto industry and countless autoworkers depends on it.” “Chinese cars are a serious threat to America’s national security and Michigan’s economic security,” said Senator Slotkin. “Chinese cars are surveillance packages on wheels, with the ability to collect on American citizens and sensitive sites. The Chinese Communist Party’s playbook of heavily subsidizing their product, underselling the competition, and then having a monopoly over that sector puts Michigan’s auto industry and our millions of workers at risk. We need to act now, and get this right. I look forward to continued work on this bill with Senator Moreno, our workers, our manufacturers and anyone else to stop Chinese vehicles from ever coming into the United States.” “Our national and economic security relies on a strong US auto industry,” said UAW President Shawn Fain. “The American Dream was launched and sustained out of good union auto jobs here in the United States. If we want to rebuild US manufacturing and raise standards for the working class, we can't keep offshoring and outsourcing our auto industry, driving a global race to the bottom for short term corporate profits. Our US auto industry must invest in cutting-edge technology and build affordable, high-quality vehicles for the American consumer, built by UAW autoworkers. We can’t keep selling out the US working class to transnational corporations that have no respect for labor rights. By building on and strengthening the existing connected vehicles rule, this legislation puts common sense guardrails on a major threat to our nation’s auto industry.” “We congratulate Senators Moreno and Slotkin on introducing The Connected Vehicle Security Act of 2026,” said the CAR Coalition. “As government and industry share a commitment to ensuring the automotive supply chain be free of connections to certain countries, this legislation will confirm that takes place. The CAR Coalition stands ready to work with Senator Moreno, the Administration, bill sponsors, and others to ensure that the U.S. continues to have a robust and secure aftermarket supply chain, which safeguards economic growth and national security.” “America needs a hard break from China that restores our economic sovereignty and prevents the Chinese Communist Party from subverting our markets,” Oren Cass, chief economist for American Compass said. “Nowhere is that priority more pressing than the automotive sector. Beijing’s immense subsidies and beggar-thy-neighbor policies are fueling a rapid Chinese takeover around the globe—a threat that, left unchecked, will undermine American industry, trade policy, and national security. The Connected Vehicle Security Act is a vital step toward keeping the CCP and its economic distortions outside our borders, protecting a robust free market, ensuring the success of American automakers, and rebuilding a competitive American industrial base.” “GM commends Senators Moreno (R-OH) and Slotkin (D-MI) on the introduction of the Connected Vehicle Security Act of 2026,” said General Motors. “General Motors supports policies that protect and strengthen American manufacturing and the global competitiveness of U.S. automakers, and we remain committed to long-term investments in our domestic workforce, facilities, and technology. As we have said many times, we can compete with anyone in the world when we are given a level playing field. We look forward to continuing to work with both offices through the legislative process.” The Connected Vehicle Security Act of 2026: Bill text can be found HERE and a one-pager can be found HERE. SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

economyforeign_policytechnology

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April 24, 2026press_release_senate

Moreno Introduces Resolution Banning Senators from Participating in Prediction Markets - Senator Bernie Moreno

Position: Senator Moreno proposes a Senate resolution to prohibit sitting senators from participating in prediction markets, arguing that such participation constitutes a conflict of interest and abuse of public office.

WASHINGTON – Senator Moreno (R-Ohio) will introduce a resolution banning sitting United States Senators from participating in prediction markets. “Any Senator who comes to Washington, D.C. to cash in, play the markets, or treat public office like a side hustle is a betrayal to the people they swore to serve,” said Senator Moreno. “If you’re here to enrich yourself instead of fight for the American people, this a clear abuse of power and you have no business holding public office.” Senator Moreno’s resolution will modify the standing rules in the Senate to prohibit Senators from entering into any financial deal where the outcome depends on whether a specific event does or does not happen. Read the full text of the resolution HERE. SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

other

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April 21, 2026press_release_senate

Moreno Praises Kevin Warsh, Exposes Democrats’ Hypocrisy - Senator Bernie Moreno

Position: Senator Moreno supports Kevin Warsh's nomination as Federal Reserve Chair, citing his qualifications and commitment to Fed independence, and notes that Democrats previously supported Warsh's nomination.

WASHINGTON – Today, Senator Bernie Moreno (R-Ohio) praised Federal Reserve Chair nominee Kevin Warsh for his strong qualifications to lead the Fed and highlighted Minority Leader Chuck Schumer and Senate Democrats’ previous support of Mr. Warsh. “‘Mr. Chairman, it is clear that Mr. Warsh is tremendously accomplished. He is committed to strong capital standards, effective supervision, and meaningful market discipline. He knows unequivocally that the Fed must be independent, nonideological, and nonpartisan, and for this reason, I am proud to support his nomination.’ I wish I had said those words, but those are the words of Senator Chuck Schumer when he voted to confirm you, in fact introduced you…It looks like Democrats used to love you at one point,” said Senator Moreno. Watch Senator Moreno’s full questioning HERE or below. SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

economy

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April 16, 2026press_release_senate

Moreno Highlights Wins For Ohio in Republicans’ Working Families Tax Cut Bill - Senator Bernie Moreno

Position: Senator Moreno supports the Working Families Tax Cuts bill, which he states provides tax relief on social security, overtime, and tips, and increases take-home pay for Ohio workers.

WASHINGTON – Today, Senator Bernie Moreno (R-Ohio) delivered remarks at Senate Republicans’ Tax Day press conference to highlight the wins for Ohio families in the Working Families Tax Cuts. In addition to no tax on social security, overtime, or tips, the bill championed by President Trump results in a take-home pay increase of up to $6,100 for hardworking Ohioans. “Republicans have stayed true to our focus. Low taxes, low regulations, small government, but added a critical component, which is a laser focus on helping the men and women who build this country every day. And I am so proud of the fact that it took only Republicans to get this bill across the finish line, and we delivered for working families,” said Senator Moreno. Watch Senator Moreno’s remarks HERE or by clicking the photo below. SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

taxeseconomy

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April 14, 2026press_release_senate

Moreno Calls to Restrict Sale of Memory Chips Abroad Until U.S. Auto Industry Fully Supplied - Senator Bernie Moreno

Position: Senator Moreno urges the Commerce Department to restrict exports of memory chips until the U.S. auto industry has sufficient domestic supply, citing national security and job protection concerns amid predicted price increases and foreign manufacturing dominance.

WASHINGTON – Today, Senator Bernie Moreno (R-Ohio) sent a letter to Commerce Secretary Howard Lutnick urging the administration to work closely with domestic memory chip manufacturers to ensure the American auto industry has the technology it needs to actively compete in the global market while protecting high-paying American manufacturing jobs. Senator Moreno warns that the U.S. has only one major designer and manufacturer of memory chips, leaving American industry heavily exposed to foreign competitors as analysts predict prices will sharply increase in 2026, potentially as much as 100%. “The American people expect a trade policy that defends their jobs, industries, and future,” wrote Senator Moreno. “That means fair trade on our terms, not free trade with foreign industries. Ensuring reliable access to critical inputs like memory chips is a necessary step toward meeting that expectation.” Read the full letter HERE or below. The Honorable Howard Lutnick Secretary U.S. Department of Commerce 1401 Constitution Avenue, NW Washington, D.C. 20230 Today, the United States faces increasing constraints in the domestic supply of memory chips. This shortage is driving up prices for American consumers across a wide range of products throughout the economy, including automobiles, household appliances, laptops, and smartphones. Currently, the U.S. has only one major designer and manufacturer of memory chips: Micron Technology (“Micron”). Outside of Micron, the leading producers of memory chips are foreign companies, primarily Samsung and SK Hynix. While both maintain a presence in the United States, they do not manufacture memory chips domestically. Instead, the vast majority of their production occurs in South Korea, with additional capacity in China. Although the U.S. imports significant volumes of memory chips from South Korea, access to chips produced in China is increasingly limited by U.S. export controls and national security policies. As a result, the United States lacks sufficient domestic memory chip manufacturing capacity to meet our own demand. The consequences are immediate and severe, particularly for the U.S. auto industry. Memory chips are embedded in virtually every new vehicle, enabling core systems within electronic control units, supporting safety features like advanced driver assistance systems, and powering infotainment and navigation systems. As vehicles become more technologically advanced, their reliance on memory chips continues to grow. Without reliable access to these components, auto production slows, costs rise, and critical systems within cars cannot function as intended. We saw this clearly during the 2020 chip shortage: assembly lines halted, vehicles sat unfinished, workers were furloughed, and prices for both new and used cars surged. Those disruptions took years to resolve. Without action, current market dynamics risk recreating those same conditions. For Ohio, these higher prices and supply delays are particularly damaging. The auto industry is a cornerstone of the state's economy, supporting roughly 329,400 jobs—nearly one in ten—and contributing $41.43 billion to Ohio's gross state product, or 4.7 percent of GDP. Ohio is the nation's largest automotive parts producer and has the second-largest automotive workforce. When memory chip supply tightens, Ohio's economy feels it first and hardest. According to S&P Global, memory chip prices could rise between 70 to 100 percent in 2026, while leading producers have acknowledged they cannot meet current demand. Auto manufacturers in Ohio are already warning that plants could go "line down" as early as May due to shortages. The result is clear: disrupted production, threatened jobs, and higher costs passed directly on to working families. In this context, Micron plays a uniquely important role. As the only major U.S.-based manufacturer of memory chips. Micron anchors the domestic supply chain that supports the auto industry and broader manufacturing base. Yet the U.S. auto sector remains heavily exposed to global demand for memory chips. This Administration has rightly prioritized onshoring production to shield America from global supply chain disruptions. Since President Trump took office, more than $4 trillion has been committed to U.S. manufacturing investment, with over 140 companies expanding operations. This includes Micron, which has announced plans to build two fabs in Idaho and four in New York, as well as expand its manufacturing facility in Manassas, Virginia for legacy memory chips—the type most commonly embedded in automobiles. However, these gains are undermined when critical inputs are not reliably available at home. When domestic industries are forced to compete for limited supply, production slows, prices rise, and the benefits of these investments are diminished. For these reasons, I urge the Department of Commerce to work with Micron, Samsung, and SK Hynix to ensure that the U.S. auto industry is fully supplied with memory chips. Prioritizing domestic demand for these essential components will help stabilize prices and protect American jobs. The American people expect a trade policy that defends their jobs, industries, and future. That means fair trade on our terms, not free trade with foreign industries. Ensuring reliable access to critical inputs like memory chips is a necessary step toward meeting that expectation. I look forward to working with you to advance these America First policies. BERNIE MORENO United States Senator SR-284 Russell Senate Office Building Washington, DC 20510 T: (202) 224-2315 Bricker Federal Building 200 North High Street, Room 618 Columbus, OH 43215 T: (614) 469-2083 Carl B. Stokes U.S. Courthouse 801 W Superior Ave., STE 1400 Cleveland, OH 44113 T: (216) 522-7272 John W. Peck Federal Building 550 Main Street, Ste 10-273 Cincinnati, OH 45202 T: (513) 684-1021

economytechnologyinfrastructure

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Moreno, Sheehy Urge Regulators to Investigate Webster-Santander Acquisition Over Security Concerns - Senator Bernie Moreno

Moreno Statement Following Trump’s Call for Passage of Housing Legislation, Institutional Investor Ban - Senator Bernie Moreno

Moreno Statement on Banking Lobbyists Attempt to Kill Financial Innovation - Senator Bernie Moreno

Moreno Demands Investigation, Denaturalization After Illegal Immigrant Trucker Kills 3 in Ohio - Senator Bernie Moreno

Moreno, Slotkin Bill to Ban Chinese Vehicles, Connected Components From U.S. Market - Senator Bernie Moreno

Moreno Introduces Resolution Banning Senators from Participating in Prediction Markets - Senator Bernie Moreno

Moreno Praises Kevin Warsh, Exposes Democrats’ Hypocrisy - Senator Bernie Moreno

Moreno Highlights Wins For Ohio in Republicans’ Working Families Tax Cut Bill - Senator Bernie Moreno

Moreno Calls to Restrict Sale of Memory Chips Abroad Until U.S. Auto Industry Fully Supplied - Senator Bernie Moreno

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