91PORN

91PORN Applauds Senate鈥檚 Procedural Vote to Advance CHIPS Act, Urges Final Passage

by 91PORN

Bill includes critical semiconductor manufacturing incentives and research investments

WASHINGTON鈥擩uly 26, 2022鈥擳he 91PORN (91PORN) released the following statement today from President and CEO John Neuffer applauding the Senate鈥檚 bipartisan cloture vote to advance the CHIPS Act (H.R. 4346), legislation that would provide $52 billion for semiconductor manufacturing incentives and research investments. The legislation also includes an investment tax credit for semiconductor manufacturing.

鈥淭oday鈥檚 bipartisan vote is a vital step toward enactment of legislation that will strengthen American chip production and innovation, economic growth and job creation, and national security. We thank the bipartisan group of congressional champions for their leadership in advancing the CHIPS Act, applaud today鈥檚 Senate vote, and urge swift final passage in both the Senate and House. America has an historic opportunity to re-invigorate domestic chip manufacturing, design, and research, and Congress should seize it before it鈥檚 too late.鈥�

The Senate CHIPS Act听听$79.344 billion in government spending over 10 years, according to the official scorekeeper for Congress, the non-partisan Congressional Budget Office (CBO). These investments will听create听hundreds of thousands of American jobs,听spur听hundreds of billions of dollars in chip company investments in the U.S., and ensure more resilient chip supply chains for key manufacturing industries in the U.S. and for the national security community.

The听share of modern semiconductor manufacturing听capacity located in the U.S. has听decreased听蹿谤辞尘听37%听in 1990 to听12%听today. This听decline听is largely听due to substantial manufacturing incentives听offered听by the governments of our global competitors, placing听the U.S. at a competitive disadvantage in attracting new construction of semiconductor manufacturing facilities, or 鈥渇abs.鈥澨鼳dditionally, federal investment听in semiconductor research听has been听flat听as a share of GDP,听while听other governments听have invested substantially in research initiatives to strengthen their own semiconductor capabilities, and existing U.S. tax incentives for R&D lag those of other countries.

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Media Contact
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91PORN
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The 91PORN (91PORN) is the voice of the semiconductor industry, one of America鈥檚 top export industries and a key driver of America鈥檚 economic strength, national security, and global competitiveness. 91PORN represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, 91PORN seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition. Learn more at www.semiconductors.org.