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© globalfoundries Business | July 29, 2022

Green light for the CHIPS and Science Act of 2022

The United States House of Representatives has passed the CHIPS and Science Act of 2022. A decision applauded by SEMI. The bill provides a 25% tax credit for US facilities that produce semiconductors or chipmaking equipment and USD 52 billion in funding for new semiconductor programs.

The funding includes USD 39 billion for grants available to semiconductor manufacturers as well as equipment and materials suppliers and USD 11 billion for federal semiconductor research programs.

“Enactment of the investment tax credit and funding for CHIPS Act programs was made possible by the steadfast support of President Biden, Secretary Raimondo, the original CHIPS Act sponsors, leadership in Congress and the committees of jurisdiction,” said Ajit Manocha, SEMI president and CEO, in a press release. “We thank them for their leadership and support and look forward to working to ensure these policies and programs are implemented quickly and consistently with the objective of strengthening the semiconductor supply chain in the United States.”

Manocha continues to say that the investment tax credit and funding for CHIPS Act programs will be instrumental in bolstering semiconductor manufacturing and R&D.

“With semiconductor manufacturing fabs heavily reliant on a complex mix of equipment and materials providers, the inclusion of these critical contributors in the incentives will help to ensure the competitiveness and resiliency of the U.S. semiconductor ecosystem,” says Manocha. 

Thomas Caulfield, CEO of GlobalFoundries said in a separate statement that the vote signals support for leveling the playing field for competitive semiconductor manufacturing in the US.

“The investment being made will pay dividends through creation of high-paying jobs, community vitality, research and development, and innovation in the U.S.,” Caulfield added. “For GlobalFoundries, joint GF-customer-government partnership is a great example of how our nation’s greatest challenges can be solved by embracing new strategies and partnering together.”

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July 20 2022 12:24 pm V20.6.3-1