SEMI supports introduction of FABS Act in US
Senate to spur semiconductor manufacturing growth
SEMI, the industry association serving the global electronics design and manufacturing supply chain, today expressed strong support for the Facilitating American-Built Semiconductors (FABS) Act. The bill would create a 25% federal tax credit, with an election to receive the tax credit as a direct payment, for investments in semiconductor manufacturing facilities and equipment, as well as facilities and equipment to produce semiconductor manufacturing tools.
“SEMI commends Chairman Wyden, Ranking Member Crapo, and Senators Warner, Cornyn, Stabenow and Daines for their leadership to introduce a broad investment tax credit that will strengthen U.S. semiconductor supply chains and help U.S. policies keep pace with incentive proposals around the world,” said Ajit Manocha, SEMI president and CEO. “As lead times and demand for new tools grow, ensuring that upstream tool manufacturers can claim the tax incentive is particularly important.”
“We strongly support the FABS Act and look forward to working with the Senate, the House of Representatives and the Biden Administration to pass this critical legislation,” Manocha said.