91PORN

91PORN Commends Senate Passage of CHIPS Act, Urges House Approval

by 91PORN

Bill includes critical semiconductor manufacturing incentives and research investments

WASHINGTON鈥擩uly 27, 2022鈥擳he 91PORN (91PORN) released the following statement today from President and CEO John Neuffer commending bipartisan Senate passage of the CHIPS Act of 2022 (H.R. 4346), legislation that would provide $52 billion for semiconductor manufacturing incentives and research investments, as well as an investment tax credit for semiconductor manufacturing.

鈥淪enate passage of the CHIPS Act marks decisive progress toward strengthening America鈥檚 economy, national security, and leadership in the key technologies of today and tomorrow. We greatly appreciate the bill鈥檚 Senate champions for advancing it, commend today鈥檚 strong bipartisan vote, and urge the House of Representatives to swiftly follow suit and send the CHIPS Act to President Biden鈥檚 desk to be signed into law. The stakes are high, and the time to act is now.鈥�

The CHIPS Act of 2022 has a total听听of $79.344 billion 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
Dan Rosso
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.