SEMI Applauds Final Passage of CHIPS and Science Act of 2022

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SEMI, the industry association serving the global electronics design and manufacturing supply chain, today applauded the passage of the CHIPS and Science Act of 2022 by the United States House of Representatives. 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 grants available to semiconductor manufacturers as well as equipment and materials suppliers and $11 billion for federal semiconductor research programs.

“Enactment of the investment tax credit and funding for CHIPS Act programs was made possible by the steadfast support of President Biden, Secretary Raimondo, the original CHIPS Act sponsors, leadership in Congress and the committees of jurisdiction,” said Ajit Manocha, SEMI president and CEO. “We thank them for their leadership and support and look forward to working to ensure these policies and programs are implemented quickly and consistently with the objective of strengthening the semiconductor supply chain in the United States.” 

“The investment tax credit and funding for CHIPS Act programs will be instrumental in bolstering semiconductor manufacturing and R&D along with a wide range of technology-reliant U.S. supply chains, create thousands of high-skill jobs, and keep pace with incentive programs around the world,” said Manocha. “With semiconductor manufacturing fabs heavily reliant on a complex mix of equipment and materials providers, the inclusion of these critical contributors in the incentives will help to ensure the competitiveness and resiliency of the U.S. semiconductor ecosystem.”