How latest version of Donald Trump's ‘big beautiful bill' may be ‘next big win' for Intel, TSMC and Micron
US President
Donald Trump
's latest legislative push aims to significantly incentivise semiconductor manufacturers to build plants in the country, further bolstering Washington's efforts to strengthen its domestic chip supply chain. The bill, which the Senate passed on Tuesday (July 1), proposes increasing tax credits for eligible semiconductor firms from 25% to 35%. This marks an even larger increase than the 30% that appeared in a prior draft.
Chipmakers like
Intel
, Taiwan Semiconductor Manufacturing Company (
TSMC
) and Micron Technology may all benefit from these enhanced credits, provided they expand their advanced manufacturing capabilities in the US before a 2026 deadline.
It is to be noted that these new provisions build upon the existing tax incentives established by the 2022 CHIPS and Science Act, which included $39 billion in grants and $75 billion in loans for US-based semiconductor manufacturing projects.
Trump's approach to chips: Beyond CHIPS Act grants
Since his first term, Trump has pursued policies to bring more of the advanced semiconductor supply chain back from Asia, bolster domestic players and curb China's technological capabilities. While the tax provisions in his new bill expand on those in the Biden administration's CHIPS Act, Trump's overall strategy for the semiconductor industry has diverged.
Earlier this year, the President even called for a repeal of the CHIPS Act, though Republican lawmakers have shown reluctance to act on that front. Nonetheless, US Commerce Secretary Howard Lutnick recently indicated that the administration is renegotiating some of the Biden administration's existing grants.
In recent months, several major chipmakers with US projects have ramped up their planned investments in the country, including TSMC, Nvidia, Micron and GlobalFoundries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
22 minutes ago
- First Post
Trump envoy Steve Witkoff says Hamas not 'acting in good faith', US to withdraw from Gaza peace talks
US envoy Steve Witkoff said the US is withdrawing from Gaza peace talks in Qatar, citing Hamas' lack of good faith. Talks with Israel have stalled over ceasefire terms and hostages, with Washington now weighing 'alternative options" read more US President Donald Trump's special envoy Steve Witkoff said Thursday that Washington would follow Israel in withdrawing negotiators from peace talks in Gaza in the capital of Qatar, claiming Hamas was not 'acting in good faith.' 'We have decided to bring our team home from Doha for consultations after the latest response from Hamas, which clearly shows a lack of desire to reach a ceasefire in Gaza,' Witkoff posted on social media. 'While the mediators have made a great effort, Hamas does not appear to be coordinated or acting in good faith.' STORY CONTINUES BELOW THIS AD Witkoff said Washington would now 'consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza. It is a shame that Hamas has acted in this selfish way.' It was unclear what 'alternative options' the US was considering. The White House had no immediate comment, and the State Department did not immediately respond to messages. A breakthrough in talks on a ceasefire deal between Israel and Hamas has eluded Trump's Republican administration for months as conditions worsen in Gaza. The territory recently had its deadliest day yet for aid-seekers in over 21 months of war, with at least 85 Palestinians killed while trying to reach food Sunday. The sides have held weeks of talks in Qatar, reporting small signs of progress but no major breakthroughs. Officials have said a main sticking point is the redeployment of Israeli troops after any ceasefire takes place. Witkoff said the US is 'resolute' in seeking an end to the conflict in Gaza and said it was 'a shame that Hamas has acted in this selfish way.' Earlier Thursday, Israeli Prime Minster Benjamin Netanyahu's office recalled his country's negotiating team back to Israel in light of Hamas' response. In a brief statement, the prime minister's office expressed its appreciation for the efforts of Witkoff and mediators Qatar and Egypt, but it gave no further details. STORY CONTINUES BELOW THIS AD The deal under discussion is expected to include a 60-day ceasefire in which Hamas would release 10 living hostages and the remains of 18 others in phases in exchange for Palestinians imprisoned by Israel. Aid supplies would be ramped up and the two sides would hold negotiations on a lasting truce. The talks have been bogged down over competing demands for ending the war. Hamas says it will only release all hostages in exchange for a full Israeli withdrawal and end to the war. Israel says it will not agree to end the war until Hamas gives up power and disarms, a condition the militant group rejects. The State Department said earlier in the week that Witkoff would be traveling to the Middle East for talks, but US officials later said that Witkoff would instead travel to Europe. It was unclear if he was holding meetings there Thursday.
Time of India
22 minutes ago
- Time of India
‘Comply with Prez's order': Blackburn slams Tennessee colleges for hiding DEI behind coded language
During a Senate Judiciary hearing focused on ending DEI, Senator Marsha Blackburn (R-TN) accused Tennessee universities of disguising their DEI programs by using coded or rebranded language. Her remarks came as President Donald Trump has vowed to bring the country together by eliminating DEI (Diversity, Equity, and Inclusion) initiatives across all institutions, from federal agencies to college campuses. Show more Show less
&w=3840&q=100)
Business Standard
22 minutes ago
- Business Standard
Torrent in talks to acquire L&T thermal unit in $1 billion deal: Report
Deliberations are ongoing and details of the potential transaction may change, the people said, adding that talks could also fall apart and other bidders might emerge Bloomberg Torrent Power Ltd. is in talks to buy the thermal business unit of Larsen & Toubro Ltd. for about $1 billion including debt, according to people with knowledge of the matter. Both companies are working with advisers on the potential transaction, the people said, asking not to be identified because the deliberations are private. A disposal would help L&T raise cash to reduce its debt, the people said. Deliberations are ongoing and details of the potential transaction may change, the people said, adding that talks could also fall apart and other bidders might emerge. A representative for L&T declined to comment, while Torrent Power didn't immediately respond to a request seeking comment. L&T has been evaluating selling its thermal unit to focus on its core engineering and construction business. The company held talks in 2021 to merge the asset with the Indian arm of Singapore-based Sembcorp Industries Ltd., Bloomberg News reported at the time. Torrent Power, owned by Ahmedabad-based conglomerate Torrent Group, offers services including power generation, transmission, distribution, as well as manufacturing and supply of power cables, according to its website. Shares of Torrent Power have dropped around 9% in Mumbai this year, giving the company a market value of nearly $8 billion.
