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SIA hails Senate passage of semiconductor finance

Jun 10, 2021 (MarketLine via COMTEX) --

AmericaaEUR(TM)s Semiconductor Industry Association (SIA) has welcomed the Senate passage of Federal investments in chip technology included in the bipartisan US Innovation and Competition Act (USICA).

The bill, introduced by Senators Chuck Schumer and Todd Young as the Endless Frontier Act and expanded in its current name, includes US$52bn in Federal investment for the domestic semiconductor research, design, and manufacturing provisions in theACHIPS for America Act.

aEURoeSenate passage of USICA is a pivotal step toward strengthening US semiconductor production and innovation and an indication of the strong, bipartisan support in Washington for ensuring sustained American leadership in science and technology,aEUR said SIA president and CEO, John Neuffer.

aEURoeWe applaud Senators Schumer, Cornyn, Warner, Young, Kelly, Cotton and others for their leadership in promoting Federal investments in US semiconductor manufacturing, research and design and commend todayaEUR(TM)s Senate approval of these provisions in USICA.

aEURoeWe call on the House to swiftly pass needed Federal investments in domestic chip technology and send legislation to the PresidentaEUR(TM)s desk to be signed into law. Enactment of these investments would help strengthen AmericaaEUR(TM)s economy, national security, technology leadership and global competitiveness for years to come.aEUR

TheAshare of globalAsemiconductor manufacturingAcapacity in the US hasAdecreasedAfromA37%Ain 1990 toA12%Atoday, according to a report by SIA and the Boston Consulting Group (BCG).

Additionally, notes the SIA, Federal investmentAin semiconductor researchAhas beenAflatAas a share of GDP,Awhile it saysAother governmentsAhave invested in research initiatives to strengthen their own semiconductor capabilities.

Global semiconductor supply chain vulnerabilitiesAhave emergedAin recent years that must be addressed through government investments in chip manufacturing and research, according to a separate SIA-BCG study.

Congress in January enacted the CHIPS for America Act as part of the FY 2021 National Defense Authorization Act (NDAA).

The law calls for incentives for domestic semiconductor manufacturing and investments in chip research.

https://www.semiconductors.org/senate-passage-of-usica-marks-major-step-toward-enacting-needed-semiconductor-investments/

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