The bill, H.R. 802, proposes an amendment to the Internal Revenue Code of 1986 to introduce a tax credit for qualified semiconductor design expenses. It allows eligible companies to receive a 25% tax credit on both their investments in advanced manufacturing facilities and semiconductor...
Simple Explanation
H.R. 802 is like giving companies a prize for spending money to come up with new ideas for making computer chips in the U.S. They can get 25% back on their costs if they try out new designs up until the end of 2036.