Bipartisan Lawmakers Launch Space Manufacturing Tax Credit Bill

A bipartisan group of tax writers introduced a bill Wednesday to explicitly make property and infrastructure for space-based semiconductor manufacturing eligible for an investment credit.

Reps. Vern Buchanan (R-Fla.), Terri Sewell (D-Ala.), and Suzan DelBene (D-Wash.) worked together on the bill, obtained by Bloomberg Tax, and say it’s necessary to keep the US competitive with China, which is already developing semiconductor processes on the Tiangong Space Station.

“Semiconductor materials manufactured in low-Earth orbit will be a critical component of the next-generation semiconductor chips that will power US leadership in AI, quantum computing and advanced defense systems,” Buchanan said in ...