The U.S. Senate has passed legislation on semiconductor production and economic competitiveness, including an investment tax credit for manufacturing facilities and equipment. The Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act includes more than $52 billion for U.S. companies that make computer chips as well as a tax credit for investment in chip manufacturing. The investment tax credit is for any tax year in an amount equal to 25% of the qualified investment for that tax year with respect to any advanced manufacturing facility of an eligible taxpayer.
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