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  2. WebPublished January 31, 2022. By: Gregory Arcuri. In January of 2021, Congress passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act. This legislation, enacted as …

     
  3. People also ask
    Why is the chips act important?The CHIPS Act commits $52 billion to grow America’s domestic semiconductor research and production and falls under the broader $280 billion CHIPS and Science Act. The hope is the new mandate will allow the U.S. to better compete in an area that is critically important to both its economy and defense.
    What is the chips & Science Act?Signed into law in August 2022, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act is intended to lure microchip manufacturing back to the United States after several decades of individual companies offshoring the technology.
    What's new with the chips Act?The Department of Commerce launched the first funding opportunity for the $39 billion in semiconductor manufacturing incentives provided in the Act just six months after CHIPS was passed.
    What does the chips & Science Act do for semiconductor companies?The CHIPS and Science Act includes $39 billion in direct incentives to build, modernize, and expand semiconductor manufacturing fabrication facilities as well as a 25% investment tax credit for semiconductor companies. Raising the tariff rate on semiconductors is an important initial step to promote the sustainability of these investments.
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