In a press release issued on Tuesday, the Federal Communications Commission (FCC) explained that it is soliciting public comment on the ongoing shortage
New US chip lobbying group Chip buyers and manufacturers are joining together to form a new lobbying group to put pressure of the Biden Administration to press for chip manufacturing subsidies.
The Semiconductors in America Coalition includes Apple, Intel, Alphabet, Microsoft and Amazon Web Services, and has asked US lawmakers to provide funding for the CHIPS for America Act, for which President Joe Biden has asked Congress to provide $50 billion.
The CHIPS for America Act (Creating Helpful Incentives to Produce Semiconductors) has earmarked billons of dollars in funding to bolster US competitiveness in the semiconductor space.
According to a letter sent by the group to political leaders in Congress, Robust funding of the CHIPS Act would help America build the additional capacity necessary to have more resilient supply chains to ensure critical technologies will be there when we need them.
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On March 31, the Biden Administration released details on its “American Jobs Plan.” Containing $2.25 trillion in new spending, $400 billion in tax credits, and $2.75 trillion in tax increases, if passed as proposed, the plan would be among the largest pieces of legislation in American history.REF The sprawling nature of the proposal, which includes taxes, transportation infrastructure, schools, health benefits, economic incentives, and more, makes the package difficult to analyze and summarize for public debate.
This has become standard practice in Washington: Leading Members of Congress bundle disparate policy measures into a handful of bloated legislative vehicles per session, and deem them “must pass” in order to pressure rank-and-file Members to vote in favor of them regardless of their specific policy concerns.REF
Chip factories can cost $15 billion to build. The CHIPS for America Act would create a 40% refundable income tax credit for semiconductor equipment and any qualified investment expenditures through 2024.
“Robust funding of the CHIPS Act would help America build the additional capacity necessary to have more resilient supply chains to ensure critical technologies will be there when we need them,” the new lobbying group said in a letter to Congressional leaders.
The ongoing global semiconductor shortage is causing significant slowdowns in the technology and automotive industries.
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