91成人

91成人 Urges Senate Passage of Tax Relief for American Families and Workers Act

by 91成人

WASHINGTON鈥擩uly 30, 2024鈥擳he 91成人 (91成人) today released the following statement from 91成人 President and CEO John Neuffer, urging Senate approval of the House-passed Tax Relief for American Families and Workers Act (H.R. 7024). The legislation, which the Senate is expected to vote on later this week, includes two provisions critical to the semiconductor industry: the temporary restoration of immediate domestic R&D expensing and the United States-Taiwan Expedited Double-Tax Relief Act. The House approved the bill in January in an overwhelmingly bipartisan vote of 357-70.

鈥�91成人 applauds the Senate for moving to consider the Tax Relief for American Families and Workers Act, and we urge the full Senate to pass this important legislation, which is vital to the global competitiveness of the semiconductor industry. 聽

鈥淎mong its many provisions, the bill temporarily restores the longstanding policy of allowing the immediate, full deduction of domestic R&D investments. Doing so would help expand U.S.-based R&D and innovation, spur economic growth and job creation, strengthen America鈥檚 tech workforce, and maximize the positive impact of the CHIPS & Science Act. The bill also seeks to resolve tax matters between the United States and Taiwan. As the semiconductor industry makes significant investments in the U.S. following CHIPS enactment, addressing tax matters between the U.S. and one of its top trading partners is timely and important.聽

鈥淲e commend Senate Finance Committee Chair Ron Wyden (D-OR) and House Ways and Means Chair Jason Smith (R-MO) for their tireless efforts in advancing this critical legislation, and we look forward to working with Senate leaders to ensure this bill is passed and sent to the president鈥檚 desk to be signed into law.鈥�

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91成人
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The 91成人 (91成人) is the voice of the semiconductor industry, one of America鈥檚 top export industries and a key driver of America鈥檚 economic strength, national security, and global competitiveness. 91成人 represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, 91成人 seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition. Learn more at www.semiconductors.org.