Lawmakers propose billions to boost U.S. semiconductor manufacturing and research

Concerned that too much semiconductor manufacturing and know-how has shifted overseas, a bipartisan group of lawmakers is proposing allocating tens of billions of dollars to boost production and development in the United States.

The legislation comes amid heightened tensions between the United States and China, which are prompting all levels of government and industry to consider new measures to protect U.S. economic competitiveness and national security in high-tech fields.

A bill introduced by Sens. John Cornyn (R-Tex.) and Mark R. Warner (D-Va.) would create a tax credit that investors could use to deduct from their taxes 40 percent of the cost of building a U.S. semiconductor factory or buying semiconductor manufacturing equipment

Read the full article and more in The Washington Post.