Congress has passed a bill that will invest more than $200 billion over the next five years to help the US regain a leading position in semiconductor chip manufacturing. The new funding is intended to help companies bring chip manufacturing back to the US and, as a result, help lower costs and prevent supply chain disruptions. $52.7 billion for chip manufacturing and researchThe package will invest $39 billion over five years to expand domestic semiconductor manufacturing. The legislation will also create a new 25% tax credit for companies that invest in semiconductor manufacturing equipment or the construction of manufacturing facilities. Private companies that receive financial assistance will be restricted from expanding certain chip manufacturing in China for 10 years.

Source: CNN August 09, 2022 23:06 UTC