The Semiconductor Industry Associationís Comments to the President's Economic Recovery Advisory Boardís Tax Reform Subcommittee
American chipmakers do the majority of our high-wage, high-value added work here in the U.S., yet we face a serious challenge as foreign governments around the world use tax and other policies to attract semiconductor facilities and research. Semiconductors are Americaís second largest export, so U.S. companies and workers will lose out unless policy makers develop a response to this challenge. The underlying principle that should guide the any changes to tax law is whether or not the change will promote U.S. competitiveness in world markets. A second, related principle is to recognize the complex nature of our current international tax system and refrain from changes outside of comprehensive tax reform.