Other countries provide ambitious government incentives to increase semiconductor manufacturing capacity. The U.S. must level the global playing field and encourage the production of more chips on American shores.
Final competitiveness and innovation legislation should: 1) provide $52 billion to fund the semiconductor manufacturing incentives and research investments in the CHIPS Act and 2) enact the FABS Act investment tax credit for semiconductor manufacturing and design.
Much of the world has ramped up their investments in chip research, while U.S. investments have remained flat. America cannot afford to lose more ground in this critical space, and American voters agree greater federal investment is needed.
Technology is advancing, and the world is becoming smarter, greener, more efficient, and better connected. But this progress and the systems and products Americans rely on are built on semiconductors that are already in short supply—and demand will only continue to rise.
Now is the time for the U.S. to invest boldly in domestic chip research, design, and manufacturing to create the jobs and power the innovation that are foundational to America’s future.