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US President Signs CHIPS Act Into Law

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US President Joe Biden signed the CHIPS and Science Act, a significantinvestment in the U.S. semiconductor industry. The legislation provides a 25%tax credit for U.S. facilities that produce semiconductors or chipmakingequipment and $52 billion in funding for new semiconductor programs. Thefunding includes $39 billion for grants available to chip manufacturers as wellas semiconductor equipment and materials suppliers and $11 billion for federalsemiconductor research programs.

SEMI, the industry association serving the globalelectronics design and manufacturing supply chain, applauded the signing of theCHIPS and Science Act of 2022 by U.S. President Joe Biden. The legislationprovides a 25% tax credit for U.S. facilities that produce semiconductors orchipmaking equipment and $52 billion in funding for new semiconductor programs.The funding includes $39 billion for grants available to chip manufacturers aswell as semiconductor equipment and materials suppliers and $11 billion for federalsemiconductor research programs.

“The CHIPS and Science Act secures landmark investments tobolster semiconductor manufacturing and R&D infrastructure as well as awide range of ancillary industries in the United States,” said Ajit Manocha,SEMI president and CEO, who attended the signing ceremony. “We thank PresidentBiden, Secretary Raimondo, the original CHIPS Act sponsors, leadership inCongress and the committees of jurisdiction for their support in enacting theinvestment tax credit and funding for CHIPS Act programs.”

“SEMI looks forward to continuing collaboration with theU.S. government and our member companies to ensure timely implementation ofthese programs to strengthen the U.S. semiconductor supply chain,” saidManocha. “The CHIPS and Science Act funding will also be instrumental inbuttressing the National Semiconductor Technology Center (NSTC), NationalAdvanced Packaging Manufacturing Program and related programs in order to drivechip industry innovations that will better the lives of people around theworld.”


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