In the US, companies receiving chip subsidies will have to share excess profits

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In the US, President Joe Biden’s administration requires chip companies that receive incentives from the programme, which includes $ 52.7 billion in support for semiconductor production, to share their excess profits.

The US Department of Commerce announced that applications for manufacturing incentives will begin to be received at the end of June under the CHIPS law, which is organised to increase chip production and scientific research in the country.


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The Ministry reported that companies receiving more than $150 million in direct financing must share a portion of their profits above the agreed threshold with the US government and submit a plan on how they will provide affordable and accessible childcare for their employees.

CHIPS law

The CHIPS law, which entered into force in the US on 9 August 2022, signed by US President Biden, aims to increase domestic semiconductor production and alleviate the chip shortage that causes disruption in production in many sectors from automobiles to electronics.

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The law includes $ 52.7 billion in support for semiconductor production, as well as a 25 per cent tax cut for 4 years to encourage the installation of semiconductor factories.

 

 

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