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To amend the Internal Revenue Code of 1986 to increase the advanced manufacturing investment credit, and for other purposes.
Summary
This bill increases the federal advanced manufacturing investment credit for semiconductor manufacturing from 25 percent to 35 percent of qualifying investment costs. The bill also extends the deadline for claiming this credit from December 31, 2026 to December 31, 2030, allowing companies a longer period to make qualifying investments and claim the expanded credit. The changes apply to property placed in service after the bill is enacted. This credit is designed to incentivize domestic semiconductor manufacturing and advanced manufacturing investments in the United States.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
23 cosponsors
- Rep. Balint, Becca [D-VT-At Large] (D-VT)
- Rep. Carey, Mike [R-OH-15] (R-OH)
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA)
- Rep. Horsford, Steven [D-NV-4] (D-NV)
- Rep. Kelly, Mike [R-PA-16] (R-PA)
- Rep. Kennedy, Timothy M. [D-NY-26] (D-NY)
- Rep. Khanna, Ro [D-CA-17] (D-CA)
- Rep. Kiggans, Jennifer A. [R-VA-2] (R-VA)
- Rep. Kim, Young [R-CA-40] (R-CA)
- Rep. Langworthy, Nicholas A. [R-NY-23] (R-NY)
- Rep. Lawler, Michael [R-NY-17] (R-NY)
- Rep. Lee, Susie [D-NV-3] (D-NV)
- Rep. Malliotakis, Nicole [R-NY-11] (R-NY)
- Rep. Mannion, John W. [D-NY-22] (D-NY)
- Rep. Morelle, Joseph D. [D-NY-25] (D-NY)
- Rep. Neguse, Joe [D-CO-2] (D-CO)
- Rep. Riley, Josh [D-NY-19] (D-NY)
- Rep. Simpson, Michael K. [R-ID-2] (R-ID)
- Rep. Stefanik, Elise M. [R-NY-21] (R-NY)
- Rep. Subramanyam, Suhas [D-VA-10] (D-VA)
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY)
- Rep. Tonko, Paul [D-NY-20] (D-NY)
- Rep. Vindman, Eugene Simon [D-VA-7] (D-VA)
Actions (2)
- May 5, 2025 Referred to the House Committee on Ways and Means. · house
- May 5, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
May 5, 2025
Ms. Tenney (for herself, Mr. Suozzi, Ms. Malliotakis, Mr. Langworthy, Mr. Fitzpatrick, Mr. Morelle, Mr. Mannion, Mr. Tonko, Mr. Carey, Mr. Kennedy of New York, Mr. Riley of New York, Mr. Horsford, Ms. Balint, Mr. Simpson, Mr. Subramanyam, Mrs. Kiggans of Virginia, Mrs. Kim, Mr. Lawler, Mr. Khanna, and Ms. Stefanik) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase the advanced manufacturing investment credit, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Building Advanced Semiconductors Investment Credit Act” or “BASIC ACT”.
SEC. 2. INCREASE OF ADVANCED MANUFACTURING INVESTMENT CREDIT.
(a) Credit Increase.—Section 48D(a) of the Internal Revenue Code of 1986 is amended by striking “25 percent” and inserting “35 percent”.
(b) Credit Period Extension.—Section 48D(e) of such Code is amended by striking “December 31, 2026” and inserting “December 31, 2030”.
(c) Effective Date.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act. <all>
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