President Obama Announces Semiconductor Industry Working Group To Review US Competitiveness (venturebeat.com)

Posted by msmash on Tuesday November 1, 2016 @04:40AM from the strengthening-the-US-industry dept.

The Obama administration has announced the formation of a working group to study issues affecting the US semiconductor industry, especially as they pertain to the nation's economic and security interests. From a report on VentureBeat:Chips are the heart of everything electronic, and they have become a $330 billion worldwide industry. U.S. companies have held the leading market share in the industry -- which puts the "silicon" in Silicon Valley -- for decades. The Semiconductor Working Group includes 11 experts on chips and the broader economy. John Neuffer, president of the Semiconductor Industry Association, the U.S. industry trade group, said in a statement: "SIA welcomes this timely announcement, given new challenges facing the U.S. semiconductor industry, including unprecedented government investment programs from some countries and the increasing technological complexity involved in achieving new innovation breakthroughs. These developments have implications not only for the economy and society, but also national security. In fact, SIA earlier recommended the Administration form a public-private advisory group to help guide government policy related to improving the competitiveness of the U.S. semiconductor industry.

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Corporate tax reform by Kohath · 2016-11-01 05:01 · Score: 1, Interesting

The biggest issue affecting US competitiveness is business taxes. That's why Qualcomm bought NXP instead of expanding organically or buying a US company. If Qualcomm brought their cash back to the US, the US government would steal (confiscate, loot, grab, appropriate, or otherwise take) billions of dollars of it. So companies like Qualcomm do what they can to avoid ever bringing money to the US. In this case Qualcomm bought an overseas company with overseas money instead, getting something of value in return for their money instead of wasting it on government.
If Obama or anyone in his party cared about US industries succeeding, they'd reform corporate taxes. But they won't do that unless they can find other pockets to pick.