Extends and increases vital advanced manufacturing tax credit to protect national security and bolster domestic semiconductor manufacturing, including Micron’s $100B investment in Clay, NY
WASHINGTON, D.C. – Representative John W. Mannion (NY-22) this week cosponsored the bipartisan Building Advanced Semiconductors Investment Credit (BASIC) Act. The legislation extends and increases the advanced manufacturing tax credit to protect national security and bolster domestic semiconductor manufacturing, including Micron’s planned $100B investment in Clay, NY.
Representative John W. Mannion (NY-22) said, “Domestic semiconductor manufacturing is critical to American national security and Upstate New York’s economic prosperity. The bipartisan BASIC Act keeps the United States as the leader in the most important, competitive, and high-tech industries of the future. I thank Congresswoman Tenney for working across the aisle to deliver a bill that will create good jobs and will further position New York State as a global leader in advanced manufacturing.”
This bipartisan legislation is sponsored by Congresswoman Claudia Tenney (NY-24) and increases the advanced manufacturing investment credit from 25 percent to 35 percent and extends its availability through December 31, 2030.
Extending this tax credit will encourage continued investment in NY-22’s growing semiconductor manufacturing and supply chain ecosystem, driving significant job creation. Renewing this incentive is part of the country’s commitment to technological leadership, ensuring the U.S. stays ahead in this strategically critical industry.
Sanjay Mehrotra, Micron Chairman, President and CEO said, “The Building Advanced Semiconductors Investment Credit (BASIC) is critical legislation to advance semiconductor manufacturing in the U.S. BASIC will generate additional economic activity across the semiconductor ecosystem in the U.S. over the next four years to meet economic and national security goals. Micron is appreciative of the leadership from Rep. Tenney, Rep. Mannion, and Members of Congress to ensure semiconductor companies can make cost-competitive, long-term investments in advanced U.S. manufacturing.”
Congresswoman Claudia Tenney (NY-24) said, “To restore America as a manufacturing powerhouse, we must empower American companies with the tools they need to succeed. The BASIC Act extends and expands the manufacturing investment credit, encouraging investment in the U.S. economy and enabling companies like Micron to build factories right here in New York. This legislation works hand in hand with the Trump administration to revitalize American manufacturing and bring jobs back to the United States.”
Additional original cosponsors of this legislation include Tom Suozzi (D-NY), Nicole Malliotakis (R-NY), Brian Fitzpatrick (R-PA), Mike Carey (R-OH), Joe Morelle (D-NY), John Mannion (D-NY), Paul Tonko (D-NY), Tim Kennedy (D-NY), Josh Riley (D-NY), Mike Simpson (R-ID), Jen Kiggans (R-VA), Joe Neguse (D-CO), Young Kim (R-CA), Becca Balint (D-VT), Elise Stefanik (R-NY), Steven Horsford (D-NV), Mike Lawler (R-NY), Ro Khanna (D-CA), and Suhas Subramanyan (D-VA).
