Finance

SEMI Applauds President Biden, Bipartisan Congressional Leaders for Supporting Semiconductor Supply Chain Incentives

SEMI Applauds President Biden, Bipartisan Congressional Leaders for Supporting Semiconductor Supply Chain Incentives

SEMI, the industry association serving the global electronics design and manufacturing supply chain, today released the following statement from president and CEO Ajit Manocha on the support of funding incentives to expand U.S. semiconductor manufacturing and research by President Biden and a bipartisan group of members of Congress in a meeting at the White House on February 24, 2021.

We thank President Biden and bipartisan congressional leaders for their support of incentives for U.S. semiconductor manufacturing and research. Enacting an investment tax credit and funding the programs authorized last year will help build needed semiconductor manufacturing capacity in the U.S. and reverse America’s declining share of global chip production. We look forward to working with the Biden administration and Congress on these and other policies to strengthen the semiconductor manufacturing supply chain that is the lifeblood of technology innovation driving countless societal and economic benefits worldwide.”

SEMI strongly supported the CHIPS for America Act, which included a refundable investment tax credit (ITC) to build U.S. semiconductor manufacturing capacity, a Commerce Department program to provide grants to semiconductor manufacturing projects, and authorizations for significant new semiconductor research programs and funding. The Fiscal Year 2021 National Defense Authorization Act signed into law this January authorized the Commerce Department and semiconductor research programs in the CHIPS for America Act but failed to provide new funding. SEMI supports enactment of all three major pillars of the CHIPS for America Act, which together will promote U.S. semiconductor research and manufacturing.

Attending the meeting with President Biden were Sens. Cornyn (R-TX), Warner (D-VA), Baldwin (D-WI), Blackburn (R-TN), Braun (R-IN), Duckworth (D-IL), Hassan (D-NH), and Portman (R-OH); and Reps. Matsui (D-CA), McCaul (R-TX), and Joyce (R-PA).
About SEMI
SEMI® connects more than 2,400 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics design and manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. Electronic System Design Alliance (ESD Alliance), FlexTech, the Fab Owners Alliance (FOA) and the MEMS & Sensors Industry Group (MSIG) are SEMI Strategic Technology Communities, defined communities within SEMI focused on specific technologies. 

Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with PR Newswire. Prittle Prattle News takes no editorial responsibility for the same.

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