(Reuters) – A bipartisan group of U.S. lawmakers on Wednesday introduced a bill that would provide more than $22.8 billion in aid for semiconductor manufacturers, aiming to spur the construction of chip factories in America amid a simmering strategic technology rivalry with China.
Chip factories can cost up to $15 billion to build, with much of the expense in the form of pricey tools. The proposal would create a refundable income tax credit for semiconductor equipment, $10 billion in federal funds to match state incentives to build factories, and $12 billion in research and development funding.
(Reporting by Stephen Nellis in San Francisco; Editing by Leslie Adler)
