Amid the continuing global chip shortage, U.S. Commerce Secretary Gina Raimondo said that semiconductors are the building blocks of the future economy and supply chain concerns are a top priority for the U.S.

In an interview with CBS' "Face the Nation" that aired Sunday, the secretary said that supply chains have been disrupted across the board and that for decades, the U.S. has been falling behind with not enough semiconductors produced in the country.

She said President Biden's jobs package calls for a 50-billion-dollar investment so the U.S. can reshore that supply chain and make semiconductors at home, becoming less vulnerable. 

Raimondo said the 50 billion dollars the president is calling for has to be matched by the private sector with another 50 to 100 billion dollars in investment.

She said it will take years and the United States is behind but it's time to take action and get going on the plan now.

To address the chip shortage situation, the Biden administration held an online meeting last month with industry leaders and global firms including Samsung Electronics and the Taiwan Semiconductor Manufacturing Company.