REPRESENTATIVE JOHN W. MANNION (NY-22) COSPONSORS BIPARTISAN STRENGTHENING ESSENTIAL MANUFACTURING AND INDUSTRIAL (SEMI) INVESTMENT ACT AND SEMICONDUCTOR TECHNOLOGY ADVANCEMENT AND RESEARCH (STAR) ACT
Extends and expands the Advanced Manufacturing Investment Credit to ensure continued domestic growth of semiconductor manufacturing
WASHINGTON, D.C. – Representative John W. Mannion (NY-22) today cosponsored two bipartisan bills to extend and expand the Advanced Manufacturing Investment Credit (AMIC), continuing his work to make Upstate New York a national leader in semiconductor manufacturing.
Representative John W. Mannion (NY-22) said, “Semiconductor manufacturing will be the cornerstone of economic growth in Central New York and the Mohawk Valley. We need to continue making the right investments and advancing policies that support every part of the industry, from research and design to materials and manufacturing. The bipartisan SEMI Investment Act and STAR Act will help create jobs, strengthen our national security, and keep American innovation here at home.”
Strengthening Essential Manufacturing and Industrial (SEMI) Investment Act
The bipartisan SEMI Investment Act extends the AMIC through 2031, expands the CHIPS Act tax credit to include upstream materials, and requires annual materials qualification lists from Treasury and Commerce. Under current law, the term “materials” is not included in the AMIC, excluding domestic manufacturers of semiconductor materials from the tax credit. The gap in the credit results in companies building overseas and relying on foreign adversaries. The SEMI Act directly addresses the gap and incentivizes domestic production by including suppliers of upstream materials. The expansion of this credit will ensure America’s economic resilience and strengthen our national defense.
The SEMI Investment Act is endorsed by the following organizations:
NY SMART I-Corridor, SEMI, Entegris, CoorsTek, the U.S. Chamber of Commerce, Qnity Electronics, Brewer Science, the American Chemistry Council, the Compressed Gas Association, and EFC Gases & Advanced Materials.
This bill was introduced by Rep. Brian Fitzpatrick (R-PA) and Brendan Boyle (D-PA) and has a Senate companion introduced by Senators Marsha Blackburn (R-TN), Michael Bennet (D-CO), Thom Tillis (R-NC), and Chris Coons (D-DE). Additional cosponsors of this legislation include Reps. Jared Golden (D-ME), Sarah McBride (D-DE), Eugene Vindman (D-VA), Joe Morelle (D-NY), Lori Trahan (D-MA), Claudia Tenney (R-NY), Blake Moore (R-UT), and Michael McCaul (R-TX).
Semiconductor Technology Advancement and Research (STAR) Act
The bipartisan STAR Act creates an investment tax credit for semiconductor design and development expenditures. The legislation ensures that the United States continues to drive technological leadership and that we close the gap in semiconductor research and development. The STAR Act also extends the AMIC for the next 10 years to ensure that domestic manufacturing continues to grow.
This bill was introduced by Rep. Blake Moore (R-UT) and is cosponsored by Suzan DelBene (D-WA), Michael McCaul (R-TX), Doris Matsui (D-CA), John Moolenaar (R-MI), Raja Krishnamoorthi (D-IL), Claudia Tenney (R-NY), Ro Khanna (D-CA), Joseph Morelle (D-NY), Vern Buchanan (R-FL), André Carson (D-IN), Josh Gottheimer (D-NJ), Terri Sewell (D-AL), Jimmy Panetta (D-CA), Joe Neguse (D-CO), Darren Soto (D-FL), James Baird (R-IN), Kristen McDonald Rivet (D-MI), Sarah McBride (D-DE), Julia Brownley (D-CA), Suzanne Bonamici (D-OR), Greg Landsman (D-OH), Eugene Vindman (D-VA), Greg Stanton (D-AZ), Thomas Suozzi (D-NY), and Dave Min (D-CA).
