FOLLOWING HIS PUSH, SCHUMER ANNOUNCES FEDS RELEASE ROADMAP FOR GAME CHANGING CHIPS & SCIENCE ACT'S INVESTMENT TAX CREDIT -- TO GET SHOVELS IN THE GROUND AND BOOST SEMICONDUCTOR INDUSTRY JOBS IN UPSTATE NY

Statement

Senator Schumer said, "The roadmap put out by Treasury this week for the implementation of the CHIPS Investment Tax Credit will help accelerate the hundreds of billions in investment and thousands of good-paying semiconductor and supply chain jobs coming to communities across Upstate New York. Without the ITC and other historic incentives I created in my CHIPS and Science Act, major investments like Micron's in Central New York would have gone overseas. The proposed ITC guidance is a major step to realizing the vision of the CHIPS and Science Act to level the playing field with incentives offered by competitors overseas, so places like Albany, Syracuse, the Mohawk Valley, and the Hudson Valley can compete with the world for semiconductor manufacturing jobs and ensure the future is made with Upstate New York workers. The additional release of the national security protections for CHIPS investment that I fought to include in the final bill will ensure that these critical federal incentives spur new manufacturing jobs here in the U.S., not in China, Asia or Europe."

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