CONGRESS FOR VOTERS

RepublicanBill · H.R. 3204· House(119-HR-3204)

BASIC ACT

Rep. Tenney
Age: 65 years
New York
Introduced
5/5/2025
Last activity
5/5/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Claudia Tenney
Cosponsors
Republican - 10Democrat - 13
Taxation
  1. Introduced
  2. In Committee

What this bill would do

The "Building Advanced Semiconductors Investment Credit Act," also known as the "BASIC ACT," proposes changes to the Internal Revenue Code of 1986. It aims to increase the advanced manufacturing investment credit from 25 percent to 35 percent. Additionally, it extends the period for this credit from December 31, 2026, to December 31, 2030. These changes would apply to property placed in service after the act is enacted.

Yes· 3 of 19

  • Would business owners be better off under this?+8

    Directly benefits owners of semiconductor manufacturing facilities through tax credits.

  • Is this likely to create jobs?+6

    Increased incentives for manufacturing facilities typically lead to higher job creation in the construction and tech sectors.

  • Would people with substantial wealth be better off under this?+5

    Increases the value of investments in the semiconductor sector.

The opposite

  • Does this raise the taxes companies pay?-5

    The bill provides a tax credit, effectively reducing the tax burden on corporations investing in semiconductors.

  • Does this reduce what the federal government owes?-3

    Increasing tax credits generally reduces federal tax revenue, which can increase the deficit.

  • Does this make the government pay for what it commits to?-2

    The reduction in tax revenue without a corresponding spending cut may be viewed as fiscally irresponsible.