The bill includes funding for Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) Act, earmarked to strengthen U.S. semiconductor manufacturing and research
SEMI, the industry association serving the global electronics design and manufacturing supply chain, has commended the passage of the America COMPETES Act of 2022 by the United States House of Representatives. The bill includes funding for the Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) Act, earmarked to strengthen U.S. semiconductor manufacturing and research.
“We are very pleased to see the House pass the America COMPETES Act of 2022 including robust funding for the CHIPS Act programs,” said Ajit Manocha, SEMI president and CEO.
He added, “This bill also includes an important clarification to ensure equipment and materials suppliers can access the Section 9902 grant program. With this provision, the CHIPS programs will attract new manufacturing facilities – including chip fabs and facilities for back-end and upstream suppliers – and support technologies and innovation critical to numerous industries in the U.S. and around the globe. This bill will strengthen the semiconductor supply chain in the United States to meet the challenges of the twenty-first century as well as bolster crucial workforce development programs. We look forward to working with Congress and the Biden Administration to quickly enact this funding into law.”
The USA’s chips act was passed recently by a margin of 222-210. The bill, nearly 3000 pages, calls for mammoth investments to boost USA’s semiconductor ecosystem. It is worth noting here that several amendments were added to the original 3000 pages bill recently. On cards is $52 billion in subsidies and grants for the semiconductor industry and approx $45 million for the supply of high tech products. India has also launched a semiconductor program in the country.
“We continue to urge quick action on the Advanced Manufacturing Investment Credit and restoration of the ability to immediately deduct research expenses which was removed at the start of this year,” he said further.
