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Tax Credits for US Semiconductor Manufacturing and Design

This act introduces new tax credits for companies manufacturing and designing semiconductors in the United States. The goal is to encourage investment in domestic production of critical electronic components, potentially impacting the availability and cost of electronic products and enhancing national economic security.
Key points
Companies can receive a 25% tax credit for investments in new semiconductor manufacturing facilities and equipment.
A 25% credit is also available for expenses related to designing new generations of semiconductors.
The credits aim to support job creation and reduce reliance on foreign suppliers in a strategic industry.
There are recapture rules if a company is acquired by a foreign entity of concern.
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Status:
Expired
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Additional Information
Print number: 117_HR_7104
Sponsor: Rep. McCaul, Michael T. [R-TX-10]
Process start date: 2022-03-16
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

FABS Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7104.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-16.

What are the main provisions?

Key points include:

  • Companies can receive a 25% tax credit for investments in new semiconductor manufacturing facilities and equipment.
  • A 25% credit is also available for expenses related to designing new generations of semiconductors.
  • The credits aim to support job creation and reduce reliance on foreign suppliers in a strategic industry.
  • There are recapture rules if a company is acquired by a foreign entity of concern.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McCaul, Michael T. [R-TX-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Economy Public Investments