US wants to give global chipmakers a 25% tax credit on new fabs
The tax credits accompany $39 billion in grants, cooperative agreements, loans, and loan guarantees available to companies working to advance US semiconductor and supply chain security interests.
The department adds that recent advancements made by the People’s Republic of China to accelerate their own domestic chip manufacturing capacity has only served to exacerbate the risk to US supply chains. These tax credits, allocated under Section Section 107 of the CHIPs bill, will be administered by the Internal Revenue Service and cover any projects that start construction between Jan. 1, 2023, and Dec. 31, 2026.
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