‘Need Is Urgent’ to Fund Chips Act, 20 Groups Tell Congress

Congress can “reinvigorate” U.S. chipmaking by funding initiatives authorized in the Chips for America Act and enacting an investment tax credit to “build and modernize” U.S. fabs, the Semiconductor Industry Association, Information Technology Industry Council and 18 other groups and associations wrote the House and Senate leadership Thursday. The Senate approved $52 billion in funding last month; the House hasn’t acted. “These initiatives will help grow the U.S. economy, create hundreds of thousands of good-paying middle-class jobs in advanced manufacturing and other fields, unleash billions in private-sector investments, assure the supply of critical components essential to virtually all sectors of the economy, and strengthen our national security,” said the organizations. “The need is urgent.”