US government to give leading foundry makers 25 per cent tax credit

@ 2022/09/09
Makes $10,000 student loan forgiveness look like small change

Foundry operators stand to benefit from a 25 percent investment tax credit (ITC) on domestic fab projects, according to a document published by the US Department of Commerce.

The document shows the department's plans for dividing the more than $50 billion CHIPS Act fund approved this year by Congress to fund domestic chip production.

The tax credits accompany $39 billion in grants, cooperative agreements, loans, and loan guarantees are available to companies working to advance US semiconductor and supply chain security interests.

The US is responsible for only 10 per cent of global chip capacity and just three per cent of global packaging, assembling, and testing services, despite being the leader in technology.

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