U.S. Department of the Treasury Releases Final Rules to Strengthen U.S. Semiconductor Industry

The Advanced Manufacturing Investment Credit Will Spur American Job Growth, Fuel Innovation, and Strengthen U.S. Semiconductor Supply ChainsWASHINGTON – Today, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released final rules for the Advanced Manufacturing Investment Credit (CHIPS ITC) created in the Biden-Harris Administration’s CHIPS and Science Act. President Biden and Vice President Harris championed the CHIPS and Science Act, a key component of the Administration’s Investing in America agenda, to usher in a new era of semiconductor manufacturing in the United States, bringing with it a revitalized domestic supply chain, good-paying jobs, and investments in the industries of the future.Part of the Biden-Harris Administration’s economic agenda, the guidance released today gives taxpayers the clarity needed to continue making and finalizing investments in U.S.