The Semiconductor Industry Association (SIA) is applauding the U.S. House of Representative’s introduction of the bipartisan Semiconductor Technology Advancement and Research (STAR) Act which extends Section 48D of the CHIPS and Science Act, or the Advanced Manufacturing Investment Credit (AMIC). According to the SIA Press Release, AMIC gives an eligible taxpayer a tax credit of up to 25% of a qualified investment in an advanced manufacturing facility for semiconductors and semiconductor manufacturing equipment, but it expires by 2026. However, the STAR Act extends this and expands it to also include investments in semiconductor design.
“The CHIPS Act’s investment tax credit has been hugely successful in strengthening America’s semiconductor ecosystem, spurring substantial private investment and helping to put the U.S. on track to more than triple domestic chip manufacturing capacity by 2032, the largest percentage increase in the world. By extending the duration of the credit, the STAR Act would build on this moment by promoting further growth in chip manufacturing here in the United States,” the SIA said in its statement. It also added, “By expanding coverage of the credit to include chip design, the STAR Act would ensure the U.S. secures the economic, national security, and first-mover advantages of being the global leader in semiconductor technology.”
