Bloomberg Tax
May 11, 2022, 8:58 PM

Top House Tax-Writer Backs Adding Credit for Chips to China Bill

Maria Curi
Maria Curi

More lawmakers say they’re looking to add tax breaks for semiconductors to a sweeping package aimed at bolstering US competition against China.

Negotiations on the compromise bill are set to formally begin Thursday, with a goal of wrapping up by the end of the summer. The House- and Senate-passed bills (H.R. 4521 and S. 1260) include more than $50 billion for chip grants, but lawmakers say there’s a need for tax credits as well.

House Ways and Means Chair Richard Neal (D-Mass.) on Wednesday threw his support behind an effort to add a chip tax incentive based on ...