Senate Passes Bill To Help Stimulate Domestic Semiconductor Manufacturing
Wednesday, July 27, 2022 | Comments

The Senate passed an act that would provide incentives to help increase domestic manufacturing of semiconductors.

The CHIPS Act and Science Act of 2022 includes $52.7 billion in funds to help support the development of semiconductor manufacturing in the U.S. Specifically, it would allocate $50 billion for the CHIPS for America fund.

That fund would be used to implement Department of Commerce programs focused on research and development (R&D) and workforce development programs that were authorized by the 2021 National Defense Authorization Act (NDAA).

Specifically, $39 billion, over five years will go to an incentive program. Of that amount, $2 billion must be used to focus specifically legacy chip production to advance economic and national security interests. That incentive program would receive $19 billion in fiscal year 2022, and $5 billion each successive year through fiscal year 2026. Meanwhile, the R&D and workforce programs would receive $11 billion over five years to help implement those programs.

Additionally, $2 billion would go to the CHIPS for America Defense Fund, which would be used for the Microelectric Commons, a national network of onshore, university-based prototyping, lab-to-fab transitions of semiconductor technologies and workforce training. Another $500 million will go to the CHIPS for America International Technology and Security Innovation Fund, which would be used to coordinate with foreign governments to support international supply chain activities, including supporting the development and adoption of secure and trusted telecommunications technologies, semiconductors and other emerging technologies.

The bill now moves onto the House of Representatives for approval. Find a summary of the bill here.

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