“Congress must pass this bill as soon as possible,” said Biden “there is an economic imperative. This bill is going to supercharge efforts to make semiconductors.”
The bill puts up $52 billion in subsidies for U.S. semiconductor production, and a four-year 25% tax credit for companies building fabs in the US.
Lockheed Martin CEO James Taiclet said a supply of chips “is essential both to national security and to the health of the defense industrial base and the aerospace industry as a whole.”
