Senators Introduce Bill for More Semiconductor Industry Incentives
A bipartisan group of lawmakers on the Senate Finance Committee introduced a bill last week they say will strengthen semiconductor supply chains by incentivizing more domestic manufacturing. The Facilitating American-Built Semiconductors (FABS) Act, like several similar bills proposed in recent months (see 2106100028), would introduce investment tax credits for investments in semiconductor manufacturing and other incentives for the semiconductor industry, the senators said June 17. An emphasis would be placed on manufacturing of “specialized tooling equipment” required in the semiconductor manufacturing process. Committee Chair Ron Wyden, D-Ore., and top Republican Mike Crapo, R-Idaho, introduced the bill with four other committee members as co-sponsors.
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The Semiconductor Industry Association said the bill can help the U.S. “meet the strong global semiconductor demand and maintain leadership in critical technologies.” It pushed for an “advanced research credit” to be added. “We call on Congress to promptly pass this legislation,” SIA said June 17.