Protecting Circuit Boards and Substrates Act

The Protecting Circuit Boards and Substrates Act aims to spur domestic production of printed circuit boards (PCBs) and integrated circuit substrates by combining a new tax credit for U.S.-made purchases with a federal financial assistance program to build, expand, and modernize manufacturing and R&D capacity in the United States. The bill seeks to strengthen national security and economic competitiveness by encouraging domestic manufacturing, workforce development, and targeted investment in facilities, while imposing protections against foreign entities of concern and including clawbacks if milestones aren’t met or if national security concerns arise. Key components include a 25% nonrefundable in-general business tax credit for purchases of PCBs and IC substrates fabricated in the United States (effective for amounts paid after December 31, 2025), and a separate Commerce Department program that provides federal financial assistance for facility construction/expansion and related workforce training, with preferences for certain small, minority- and veteran-owned, and workforce-training–oriented applicants, plus strict oversight, clawback provisions, and national security considerations. An authorization of $3 billion is provided for 2026, with funds available through 2065 for program purposes.