Texas Lawmakers Seek CHIPS Act Funding Approval

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The bill incentivizes semiconductor producers to do business in the United States and could potentially fuel an unprecedented expansion for Samsung in central Texas.

AUSTIN, Texas — Texas lawmakers have called on Congress to finally pass funding for the “CHIPS” law.

The bill incentivizes semiconductor producers to do business in the United States, but the funding bill stalls.

On Friday, Texas House Speaker Dade Phelan sent a letter to U.S. Representative Michale McCaul, saying the bill would help Texas create more high-income, high-skilled jobs.

“The U.S. Congress now has the opportunity to build on our state’s success by passing the CHIPS Act of 2022. If passed, the legislation would further enhance our competitive advantage in an increasingly important semiconductor industry. , would spur additional investment in our manufacturing capacity and allow Texas to add even more highly-skilled, high-income jobs to our workforce,” Phelan wrote in the letter.

McCaul also released a letter calling for the legislation to be passed.

“I am proud to have joined Rep. Matsui as the original sponsors of The Chips Act. It has been a long process, but this national security legislation will ensure that we manufacture semiconductors – the brains behind everything from cellphones to fighter jets – right here in America,” McCaul said in part.

The act could fuel an unprecedented expansion for Samsung in central Texas. The company has filed documents to build up to 11 new semiconductor factories between Austin and Taylor, representing nearly $200 billion in new investment. Documents show that this massive investment would create more than 10,000 jobs.

This is in addition to Taylor’s $17 billion factory already under construction.

Taylor City Mayor Brandt Rydell explained what this type of massive investment would mean for the community.

“There’s an energy and an enthusiasm, of course, tempered by some apprehension about the fear of the unknown, because, you know, we’ve never experienced anything like this before in our community,” he said. -he declares. “I’m not sure there are many places in the world that have had something at the scale of an investment potentially approaching $200 billion.”

The state tax incentive program that has helped Samsung and many other businesses build in Texas is called Chapter 313 and expires at the end of the year. Many companies have filed Chapter 313 petitions to keep their options open for future projects, which ultimately means nothing is set in stone at this point.

Samsung, if it chooses, could move factory plans to another state in the future, but CHIPS funding could create more incentives for companies, like Samsung, to do business in the United States. United and Texas in particular.

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