***The Iowa Standard is an independent media voice. We rely on the financial support of our readers to exist. Please consider a one-time sign of support or becoming a monthly supporter at $5, $10/month - whatever you think we're worth! If you’ve ever used the phrase “Fake News” — now YOU can actually DO something about it! You can also support us on PayPal at [email protected] or Venmo at Iowa-Standard-2018 or through the mail at: PO Box 112 Sioux Center, IA 51250

Senator Tom Cotton (R-Arkansas) today introduced an amendment to the CHIPS+ package to prohibit companies that receive federal grants and tax credits from expanding semiconductor production in China. Text of the amendment may be found here.

“We should be bolstering manufacturing at home—not expanding abroad. My amendment will ensure companies that receive taxpayer funds can’t turn around and build more factories in China,” said Cotton.

Advertisement

This amendment would:

  1. Eliminate loopholes that would allow semiconductor companies to take taxpayer money while expanding production of so-called “legacy semiconductors” in China.
  2. Eliminate a “Mitigation” process that would allow semiconductor companies to expand advanced semiconductor manufacturing in China and keep CHIPS grant money while keeping taxpayer funds.
  3. Provide a more comprehensive definition of “semiconductor manufacturing” so that companies cannot take taxpayer money and move other parts of their manufacturing supply chains like testing, packaging, and R&D to China.
  4. Eliminate other loopholes that companies could use to argue with the Department of Commerce about whether their activities in China disqualify them from receiving taxpayer funds.

Author: Press Release

(adsbygoogle = window.adsbygoogle || []).push({});

LEAVE A REPLY

Please enter your comment!
Please enter your name here