US chipmakers could see bigger tax credits if Trump’s spending bill passes
An American flag near the Golden Gate Bridge in San Francisco, California, US, on Monday, Jan. 23, 2023. A $400 million federal grant to upgrade and retrofit the Golden Gate Bridge to ensure it can withstand the impacts of a major earthquake was unveiled following the passage of the bipartisan infrastructure law in Congress last year that included funding to repair and rebuild bridges across the country. Photographer: Benjamin Fanjoy/Bloomberg via Getty Images | Image Credits:Benjamin Fanjoy/Bloomberg / Getty Images The semiconductor industry could see a big tax benefit if the Trump administration is able to pass the current version of its spending bill.
The latest draft of the Trump administration’s “Big, Beautiful Bill,” which already passed in the Senate, will raise the tax credit for chipmakers building manufacturing plants in the U.S. from 25% to 35%, as originally reported by CNBC.
Companies including Intel, TSMC, and Micron Technology could reap these benefits if they continue to expand their U.S. manufacturing efforts.
This proposed tax credit could give the semiconductor industry a needed boost after recent chip export licensing requirements, regarding selling advanced AI chips to China, have resulted in material revenue hits to multiple domestic chipmakers.
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