CHIPS Act Timing Questions Slow Project Financing, Industry Says

Uncertainty over the CHIPS Act tax credit refund timeline is hamstringing companies’ efforts to get private financing needed to boost semiconductor investments, tax professionals told the IRS at a public hearing Thursday.

Companies and others looking to leverage billions in promised tax credits from the CHIPS Act filed comments and spoke at the hearing on regulations for the elective payment of advanced manufacturing investment credit—calling for the language specifying how and when credits can be used and making clear when eligible filers can expect awards.

Tymon Daniels, vice president of tax for Corning Inc., said the ...