SEMICONDUCTORS | US House passes Competes Act

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Seeds praises the passage of the America Competes Act of 2022 by the US House of Representatives. The bill includes funding for the Creating Useful Incentives for America Semiconductor Manufacturing Act, which is intended to strengthen semiconductor manufacturing and research in the US. Ajit Manocha, president and CEO of Semi: "This bill will strengthen the semiconductor supply chain in the U.S. to meet the challenges of the 21st century and strengthen critical workforce development programs. We look forward to working with Congress and the Biden administration to quickly make this funding law and continue to urge swift action on the Advanced Manufacturing Investment Credit and restoration of the ability to immediately deduct research expenses that were removed earlier this year."

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