Senator Baldwin Votes to Support Made in America Economy and Lower Costs for Consumers
The CHIPS and Science Act boosts American semiconductor manufacturing, strengthens our supply chains, and creates good-paying jobs
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin voted to pass the CHIPS and Science Act of 2022 and the bipartisan legislation passed the Senate 64-33:
“Manufacturers across Wisconsin are supporting this bipartisan legislation to boost the domestic production of semiconductor chips because they know it is essential to moving our economy forward. I voted for this legislation because it will not only support Wisconsin manufacturing, but it will also strengthen our domestic supply chain and help lower costs for businesses and consumers. To me, it’s simple—we need Made in America chips to better support our Made in Wisconsin manufacturing economy,” said Senator Baldwin. “Wisconsin has strong potential to be a growth center because we have world-class research universities and a Made in Wisconsin manufacturing workforce that knows how to make products. We are leaders in bioenergy research and water technology, so, Wisconsin is well positioned for growth in emerging industries. Passing this legislation can really help support the STEM education we are providing and the R&D we are doing to create job growth for our state.”
The CHIPS and Science Act of 2022 will:
Invest $54.2 billion in domestic manufacturing of semiconductors and support for public-private research into new semiconductor technologies. The bill includes new language to prohibit recipients from expanding production of advanced semiconductor manufacturing in the People’s Republic of China and other “countries of concern” for ten years after receipt of the assistance.
Create a 25 percent investment tax credit for companies who invest in semiconductor manufacturing. The credit covers both manufacturing equipment as well as the construction of semiconductor manufacturing facilities. It also includes incentives for the manufacturing of the specialized tooling equipment required in the semiconductor manufacturing process.