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SEMI Commends Senate Passage of CHIPS Act of 2022, Urges House Approval

The bill provides $52 billion in funding for new semiconductor programs.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

SEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the passage of the Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) Act of 2022 by the US Senate and urged the House of Representatives to swiftly pass the legislation.

The bill provides a 25% tax credit for U.S. facilities that produce semiconductors or chipmaking equipment and $52 billion in funding for new semiconductor programs. The funding includes $39 billion for a grant program available to semiconductor manufacturers as well as equipment and materials suppliers and $11 billion for federal semiconductor research programs.

“It is crucial for the House to join the Senate in passing the investment tax credit and funding for CHIPS Act programs in order to bolster the semiconductor supply chain based in the United States and keep pace with industry incentives offered by other regions,” said Ajit Manocha, SEMI president and CEO.

“These policies will strengthen semiconductor manufacturing and R&D in the U.S. while creating thousands of high-skill jobs,” added Manocha. “Ensuring the competitiveness and resiliency of the U.S. semiconductor ecosystem requires that semiconductor manufacturing equipment and materials providers – vital contributors to fabs – are included as eligible recipients of the incentives.”

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