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Semiconductor Industry Praises President’s Long-Term Support for Increased Science Research Funding

America’s largest export industry deeply concerned over international tax provisions

WASHINGTON

Brian Toohey

Increased funding for NIST and NSF is critical in supporting America’s innovation race to develop the next wave of technology that will allow for faster, smaller and more energy efficient electronic devices beyond our current limits. To work on this challenge the semiconductor industry, over 30 universities, NIST, NSF, and state and local governments are successfully collaborating through the Nanoelectronics Research Initiative (NRI), which funds research at U.S. universities to advance nanoelectronics. The future of the technology industry in America and our global competitiveness rests on the research funded at NRI centers across the nation. Further advancing an agenda of increased scientific research is the President’s continued proposal to make the R&D tax credit permanent and to include a 3 percent point increase in the alternative simplified credit. These combined efforts will reinforce a culture of innovation and scientific exploration that will pay dividends well into the future.

In addition to fueling scientific research we must also ensure that American companies are not put at a disadvantage compared to foreign-based competitors. Unfortunately, the FY2012 budget proposal related to international tax provisions does exactly that. SIA member companies, who represent the nation’s largest export industry, face fierce international competition and an outdated and cumbersome U.S. tax system puts them at a disadvantage. This hinders their ability to grow their operations, hire more Americans and build equity for their shareholders. Certain tax provisions included in the budget proposal would exacerbate this problem.

"SIA member companies represent America’s largest export industry and our contribution to the economy is enormous," continued Toohey, "but without a level playing field in our tax policies, the strength of the U.S. semiconductor industry could be in jeopardy.  Changes to the tax code must be done in a comprehensive fashion. The semiconductor industry has been clear as to the significant tax factors that help determine the location of billions of dollars of future manufacturing and R&D investments.  We stand ready to work with the Administration and Congress to ensure that the U.S. maintains its technology leadership."

About the SIA

$1.1 trillion dollar the United States www.sia-online.org

Media Contact

Caroline Kazmierski

Semiconductor Industry Association

[email protected]

202-446-1101

214-335-8843

SOURCE Semiconductor Industry Association

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