The CHIPS-Plus Act, a compromise measure that includes key parts of the Senate’s United States Innovation and Competition Act (USICA) and the House’s America COMPETES Act, is expected to be passed this week. It will materially advance domestic production of semiconductors, and enhance U.S. science and technology leadership to better compete globally, especially with China.
After months of working with Congress and the Biden Administration, the NAM succeeded in securing several manufacturing priorities in this bill. While it represents a significant win, the NAM will keep pushing for the wider array of measures from the original legislation.
What’s in it: Here is a breakdown of some key elements from the CHIPS-Plus Act, courtesy of the NAM’s government relations team.
Manufacturing capacity: The bill includes $52 billion for semiconductor research and manufacturing incentives in the U.S. It also provides $9 billion to strengthen the National Institute of Standards and Technology and its missions in support of Manufacturing Extension Partnerships, cybersecurity and manufacturing research institutes.
Tax credits: A temporary 25% advanced manufacturing investment tax credit for certain investments related to semiconductor manufacturing.
Energy: The bill will create, within the Energy Department, the Regional Clean Energy Innovation Program to support clean energy innovation. It also provides for the creation of the Critical Minerals Subcommittee within NIST to help coordinate critical minerals research programs.
Read the NAM’s full CHIPS-Plus Act summary document here.