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Intel, Ford Urge Tax Benefits for Chips, U.S. Manufacturing
- Manufacturers push for refundable tax credits and grants
- Ford executive warned against raising 21% corporate tax rate
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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.