US extends 25% semiconductor tax credit to chip and solar wafers
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The Biden administration finalized rules for a 25% tax credit for semiconductor manufacturing projects on October 22, 2024; the tax credit expands eligibility to companies producing wafers and chipmaking equipment; solar wafers are also included, aiming to boost domestic production; facilities producing polysilicon remain excluded; the Chips Act includes $39 billion in grant funding and $75 billion in loans; tax credits could cost over $85 billion, exceeding original estimates; Micron Technology Inc expects $11.3 billion in tax credits for two factories; Texas Instruments Inc anticipates $6 billion to $8 billion in tax credits; Hemlock Semiconductor LLC received a $325 million grant.
#Semiconductors #TaxCredit #BidenAdministration #ChipsAct #SolarWafers #Manufacturing #Investment #Polysilicon #MicronTechnology #TexasInstruments
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