Bill to Inject Billions into U.S. Semiconductor Industry Nears Finish Line

July 28, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Senate passed legislation Wednesday to pump billions of dollars into the domestic semiconductor industry. Proponents of the measure say the funding is necessary to help the U.S. catch up with countries such as China, which have spent far more to develop their semiconductor industries.

The Senate voted 64-33 to pass the CHIPS-plus Act, which includes more than $52 billion for U.S. computer chip manufacturers and billions of dollars in potential tax credits, plus funding for development of chip-related technologies. CHIPS stands for Creating Helpful Incentives to Produce Semiconductors.

Companies featured: Intel Corporation (NASDAQ:INTC), Texas Instruments Incorporated's (NASDAQ:TXN)