SEMI applauds Senate progress on CHIPS Act of 2022

The bill includes $52bn in funding for new semiconductor programs, including $39bn for a grant program available to semiconductor manufacturers as well as equipment and materials suppliers. Additionally, a 25% tax credit is included for facilities that produce semiconductors or semiconductor manufacturing equipment.

“To strengthen the semiconductor supply chain in the United States and keep pace with other regions offering incentives, it is crucial for Congress to pass CHIPS funding and the investment tax credit,” said Ajit Manocha, SEMI president and CEO. “With semiconductor manufacturing facilities heavily reliant on a complex supply chain of equipment and materials providers, it is particularly important that these vital fab suppliers are eligible for incentives to ensure the resiliency, competitiveness and growth of the complete U.S. semiconductor ecosystem. SEMI also supports the addition of an advanced semiconductor research tax credit, extending the investment tax credit to materials suppliers, and other proposed reforms.”