The U.S. Senate is considering adding $ 30 billion in incentives to a new competitiveness-over-China bill. These funds will go to finance previously approved measures designed to promote the development of semiconductor manufacturing in the United States. This was reported to Reuters by a congressional source who wished to remain anonymous because the document was not yet ready.
Lawmakers expect to prepare a package of proposals for the April vote, including other elements that should help the US tech sector. In particular, it will contain provisions restricting China’s access to American capital.
The bill was based on a similar document that was proposed last year and provided for the allocation of $ 100 billion to fund research in key technology areas – from artificial intelligence to quantum computing and semiconductor manufacturing.
If passed, the bill would allow urgent funding for programs included in last year’s National Defense Act and still awaiting funding.
One is to provide grants to companies that invest in US factories and equipment for semiconductor manufacturing and R&D. The second instructs the government to establish a public-private partnership to form consortia of firms to produce “measurably safe microelectronics.”
The semiconductor industry is also pushing for an investment tax credit for equipment costs for new plants, which could be worth billions of dollars.
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