HILL TAX BRIEFING: Chips Incentive Bill Headed for Finish Line

Lawmakers in both chambers are angling this week to pass a China competition bill that would provide the semiconductor industry with more than $50 billion in funding and establish a new tax credit for chip manufacturers.

The Senate on Monday is slated to take a procedural vote on the competition bill, which includes a 25% tax credit for companies that make semiconductors. Sen. John Cornyn (R-Texas), a backer of the bill, has predicted a vote on final passage Wednesday.

If the bill passes the Senate, House Speaker Nancy Pelosi (D-Calif.) said she expects the package to pass the House with ...