BASIC ACT
Sponsored By: Representative Tenney
Introduced
Summary
Larger, longer semiconductor investment tax credit. This bill would raise the advanced manufacturing investment credit from 25% to 35% and extend the credit period through December 31, 2030 to encourage more investment in advanced semiconductor equipment.
Show full summary
- Manufacturers and investors: Lowers the after-tax cost of buying qualifying semiconductor equipment by boosting the credit rate to 35%, improving the economics of new fabs and upgrades.
- U.S. supply chain and capacity: A bigger, longer credit is designed to attract more onshore semiconductor investment and support domestic manufacturing capacity.
- Timing and eligibility: The changes would apply to property placed in service after the date of enactment and keep the credit available until Dec. 31, 2030.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Higher tax credit for chip makers
This bill would raise the advanced chip manufacturing investment tax credit to 35% (up from 25%). The higher rate would only apply to qualifying property placed in service after the bill is enacted. The credit would be available through December 31, 2030. Eligible businesses could use it to lower federal taxes on new qualifying equipment and facilities.
Sponsors & CoSponsors
Sponsor
Tenney
NY • R
Cosponsors
Suozzi
NY • D
Sponsored 5/5/2025
Malliotakis
NY • R
Sponsored 5/5/2025
Langworthy
NY • R
Sponsored 5/5/2025
Fitzpatrick
PA • R
Sponsored 5/5/2025
Morelle
NY • D
Sponsored 5/5/2025
Mannion
NY • D
Sponsored 5/5/2025
Tonko
NY • D
Sponsored 5/5/2025
Carey
OH • R
Sponsored 5/5/2025
Kennedy (NY)
NY • D
Sponsored 5/5/2025
Riley (NY)
NY • D
Sponsored 5/5/2025
Horsford
NV • D
Sponsored 5/5/2025
Balint
VT • D
Sponsored 5/5/2025
Simpson
ID • R
Sponsored 5/5/2025
Subramanyam
VA • D
Sponsored 5/5/2025
Kiggans (VA)
VA • R
Sponsored 5/5/2025
Kim
CA • R
Sponsored 5/5/2025
Lawler
NY • R
Sponsored 5/5/2025
Khanna
CA • D
Sponsored 5/5/2025
Stefanik
NY • R
Sponsored 5/5/2025
Neguse
CO • D
Sponsored 5/6/2025
Kelly (PA)
PA • R
Sponsored 6/3/2025
Vindman
VA • D
Sponsored 6/24/2025
Lee (NV)
NV • D
Sponsored 8/15/2025
Roll Call Votes
No roll call votes available for this bill.
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