The Senate just passed H.R. 4346, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act by a vote of 64 to 33. The bill now goes to the House who could vote on it this week before they leave for their August recess. If the House passes the bill, it would then go to the President for his signature.

The bill is a trimmed-down competitiveness package from a larger bill that passed last year, but stalled in bipartisan, bicameral conference talks. It includes $54.2 billion in five-year grants for semiconductor manufacturing and research, as well as 5G wireless deployment, a 25% tax credit for investments in semiconductor manufacturing facilities through 2026, funding authorization for the National Science Foundation (NSF), and other science-focused measures.

Bill Text

https://www.commerce.senate.gov/services/files/CFC99CC6-CE84-4B1A-8BBF-8D2E84BD7965

Section-by-Section Summary

https://www.commerce.senate.gov/services/files/1201E1CA-73CB-44BB-ADEB-E69634DA9BB9

CHIPS and ORAN Investment Division A Summary

https://www.commerce.senate.gov/services/files/2699CE4B-51A5-4082-9CED-4B6CD912BBC8

NSF, NIST, DOC, NASA Division B Summary

https://www.commerce.senate.gov/services/files/6E687DDA-7AA6-4EA8-B9C8-F25E3A0254ED

Department of Energy Division B Summary

https://www.commerce.senate.gov/services/files/218906F5-60BE-4EEF-A58C-F50CC0A134E6