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House Democrats Signaling Wariness on Tax Perks in Chips Bill

May 23, 2022, 8:45 AM

A bipartisan effort by senators to add tax provisions to a major bill aimed at increasing competitiveness with China (H.R. 4521) is running into headwinds, as some House Democrats balk at adding measures that are seen as helping corporations.

Senate Finance Committee Chairman Ron Wyden (D-Ore.) and ranking member Sen. Mike Crapo (R-Idaho) want to add a tax credit for domestic fabrication of semiconductors, known as the FABS Act (S.2107). There is also a push to add a research and development expensing provision that expired at the end of 2021. The ...