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The Semiconductor Industry Association (SIA) has responded to the Senate passage of the US economic recovery bill with full applause. The bill serves as a catalyst for the stimulation of economic growth, encouraging innovation that will create long-term benefits for the US economy.

“We are very pleased that the Senate was able to reach an agreement to pass an economic recovery package and proceed to conference with the House,” stated SIA President George Scalise, pictured. “We were pleased that both bills recognize the importance of substantial funding for research and related scientific infrastructure. We encourage the conference committee to adopt the higher levels for NSF, NIST, and DOE Science. Investments in science create jobs now and will improve America’s competitive position in the global economy for years to come.”

“We are pleased that both the Senate and House bills include funding for national priorities such as energy, health IT, and broadband. Semiconductor technology can achieve significant efficiencies in the generation, transmission, and use of energy. Investments in health IT will create future cost savings and improve quality of care, and expanded broadband deployment will allow underserved areas of the country to benefit the IT economy. Investment in these new technologies will also create new opportunities for the technology sector, which has been severely impacted by the current global recession.

“As America’s second-largest exporting industry, we hope that the compromise bill will eliminate the ‘Buy American’ provisions, which would invite retaliation by our trading partners and do significant damage to U.S. exports. We also hope the compromise bill will address important tax issues including allowing companies in loss situations to exchange future tax benefits such as alternative minimum tax and R&D credits for cash now to provide liquidity and finance investments that will create jobs today.