More than 100 tech executives have signed a letter calling on the U.S. House of Representatives and Senate to agree on legislation to increase U.S. competitiveness against China.<\/p>\n
“Our global competitors are investing in their industry, their workers, and their companies, and it is imperative that Congress act to enhance U.S. competitiveness,” the letter said.<\/p>\n
The letter was organized by the Semiconductor Industry Association (SIA), which also calls for an investment tax credit for semiconductor manufacturing and design in the bill.<\/p>\n
“The leaders of our industry are under pressure to get fabs up to respond to the growing demand for chips. And they can’t wait,” said SIA CEO John Neuffer. Neuffer went on to explain that the law would “ensure that more of those fabs are going to be built in the U.S. rather than overseas.”<\/p>\n
The China competition bill includes $52 billion in federal funds to expand U.S. semiconductor manufacturing capacity that is built in factories called “fabs,” a term used for fabrication plants.<\/p>\n