U.S. senators propose 25% tax credit for semiconductor manufacturing
The Hindu
The tax credit could benefit Taiwan Semiconductor Manufacturing Co (TSMC), which is building a $12 billion semiconductor factory in Arizona, and Dutch chipmaker NXP Semiconductors NV as well as U.S. firms such as Intel Corp and Micron Technology Inc.
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) A bipartisan group of U.S. senators on Thursday proposed a 25% tax credit for investments in semiconductor manufacturing as Congress works to increaseU.S. chip production. The proposal sponsored by Senate Finance Committee Chairman Ron Wyden and the top Republican Senator Mike Crapo along with four other senators would provide "reasonable, targeted incentives for domestic semiconductor manufacturing," they said in a statement.
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