MILPITAS, CA -- Following Senate Finance Committee Chairman Mike Crapo (R-ID) and Ranking Member Ron Wyden (D-OR) reaffirming support for the Section 48D Advanced Manufacturing Investment Credit (AMIC), SEMI today released a statement from its President and CEO Ajit Manocha commending the action on behalf of the semiconductor supply chain.

A picture containing text, clipartDescription automatically generated“The joint statement from senators Crapo and Wyden in support of the Section 48D tax credit highlights the crucial role it plays in strengthening U.S. semiconductor manufacturing, creating jobs, and advancing national security,” said SEMI President and CEO Ajit Manocha. “Last month we shared on Capitol Hill how the looming AMIC expiration adds uncertainty for our member companies in the semiconductor supply chain, some of whom are actively planning to expand operations to meet rising chip demand, and we applaud the senators’ leadership for this pivotal tool in attracting semiconductor ecosystem investment.”

SEMI brought together senior tax executives from its member companies for meetings on July 22, 2026, on Capitol Hill focused on preserving and strengthening the Section 48D tax credit for investments in building up the U.S. semiconductor ecosystem. As part of the SEMI Tax Day event, industry representatives urged swift passage of a multi-year extension of the tax credit before it lapses at the end of the year.

Background on Section 48D Tax Credit

• Enacted under the CHIPS and Science Act, the Section 48D credit provides a refundable 35% tax credit for qualified investment in semiconductor and semiconductor manufacturing equipment facilities.
• The tax credit has helped catalyze hundreds of billions of dollars in announced U.S. semiconductor investment across 28 states.
• Under current law, facilities must begin construction by December 31, 2026, to qualify, which is out of step with the multi-year timelines required to site, permit, finance, and build a semiconductor facility.
• Major semiconductor producing economies worldwide are competing aggressively for semiconductor investments with similar tax incentives.

SEMI Request on Section 48D Tax Credit

• SEMI's request is a multi-year extension of Section 48D ahead of the construction deadline.
• SEMI also urges Congress to strengthen the credit by expanding eligibility to cover more of the full semiconductor supply chain, including materials, specialty chemicals and gases, and design activities.

View the SEMI 2026 U.S. Policy Strategy to learn more about SEMI’s top policy priorities. For updates on SEMI’s public policy efforts and developments, visit SEMI Global Advocacy.