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The Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer welcoming House introduction of Building Advanced Semiconductors Investment Credit (BASIC) Act. The legislation supports the continued revitalization of U.S. semiconductor manufacturing by increasing the rate of the Advanced Manufacturing Investment Credit (AMIC) from 25% to 35% and extending the credit for four years. The BASIC Act was introduced by Rep. Claudia Tenney (R-NY) and a bipartisan group of 19 cosponsors.
“To win the chip race, the U.S. must continue to reinforce domestic chip production and advance innovation. The BASIC Act is a welcome effort to strengthen this proven driver of investment by increasing the credit’s rate and extending its duration, spurring continued investment in America’s growing ecosystem. This proposal, along with the expansion of the credit to include chip R&D and design, is critical to America’s competitiveness and sustained technology leadership.”
Since President Trump highlighted the need for a robust domestic semiconductor manufacturing ecosystem during his first term, there have been over 100 new semiconductor projects announced across 28 U.S. states, totaling over $540 billion in private investments. Those projects will create and support over half-a-million American jobs. The U.S. is now on track to triple its chip manufacturing capacity by 2032 and command a sizable share of the world’s advanced chip production.
Earlier this year, Reps. Blake Moore (R-UT), Suzan DelBene (D-WA), Michael McCaul (R-TX), Doris Matsui (D-CA), John Moolenaar (R-MI), and Raja Krishnamoorthi (D-IL) led several of their colleagues in introducing the Semiconductor Technology Advancement and Research (STAR) Act (H.R. 802). The bill extends the duration of the AMIC for 10 years and expands the eligibility of the credit to chip research and design.
In its 2025 policy agenda, SIA calls on Congress to renew the credit, which expires at the end of next year, and expand the credit to cover other critical supply chain activities, such as chip design and the production of certain critical materials, like semiconductor-grade polysilicon.
