Applauding semiconductor support

SEMI has applauded the signing of the CHIPS and Science Act of 2022 by US President Joe Biden. The legislation provides a 25 per cent tax credit for US facilities that produce semiconductors or chipmaking equipment and $52 billion in funding for new semiconductor programs. The funding includes $39 billion for grants available to chip manufacturers as well as semiconductor equipment and materials suppliers and $11 billion for federal semiconductor research programs.

SEMI president and CEO, Ajit Manocha, said: “The CHIPS and Science Act secures landmark investments to bolster semiconductor manufacturing and R&D infrastructure as well as a wide range of ancillary industries in the United States. We thank President Biden, Secretary Raimondo, the original CHIPS Act sponsors, leadership in Congress and the committees of jurisdiction for their support in enacting the investment tax credit and funding for CHIPS Act programs.

“SEMI looks forward to continuing collaboration with the US government and our member companies to ensure timely implementation of these programs to strengthen the US semiconductor supply chain.”