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Those executives and more than 100 others signed a letter urging
the U.S. House of Representatives and Senate, which each have
passed different versions of the legislation, to reach an
agreement and send a bill to President Joe Biden for his
signature. Legislators will break for a summer recess in August,
after which most observers expect lawmakers to shift their
attention to this fall's midterm elections.
"Our global competitors are investing in their industry, their
workers, and their economies, and it is imperative that Congress
act to enhance U.S. competitiveness," said the letter.
The Semiconductor Industry Association (SIA), which organized
the letter signing, said the letter was the largest group of
corporate leaders so far to endorse the bill.
The legislation includes $52 billion in federal funding to
expand U.S. semiconductor manufacturing capacity, which happens
in factories called "fabs," short for fabrication plants.
“The leaders of our industry are under pressure to get fabs up
to respond to the growing demand for chips. And they can't
wait,” said SIA CEO John Neuffer, adding that the bill would
“ensure that more of those fabs are going to be built in the
U.S. rather than overseas.”
The SIA is also calling for an investment tax credit for
semiconductor manufacturing and design in the competitiveness
legislation.
Democratic House Majority Leader Steny Hoyer said he hoped
lawmakers could complete the legislation by the end of the
month. He added that Republican Senate Minority Leader Mitch
McConnell told him “he is not going to do anything to oppose or
undermine consideration of this bill.”
(Reporting By Jane Lanhee Lee, Moira Warburton and Stephen
Nellis; Editing by Cynthia Osterman)
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