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Intel, Ford Urge Tax Benefits for Chips, U.S. Manufacturing (1)

March 16, 2021, 6:33 PM

Foreign producers of semiconductors, electric car batteries and pharmaceuticals will continue to squeeze U.S. manufacturing unless Congress provides more incentives for domestic production, representatives from Intel Corp. and Ford Motor Co. said Tuesday.

George Davis, Intel’s chief financial officer, told the Senate Finance Committee that lawmakers should consider a wide range of measures, including grants and refundable tax credits, for U.S. to produce the advanced microprocessing chips that both Democrats and Republicans say is critical to national security.

“If you look to China, Taiwan, South Korea -- all the areas where there has been substantial growth in the semiconductor ...