Biden's semiconductor law to ramp up U.S. chip production, report finds

President Joe Biden answers questions from reporters as he speaks in the State Dining Room of the White House in Washington, Nov. 9, 2022. (AP Photo/Susan Walsh, File) WASHINGTON (AP) — A sweeping 2022 law, touted by President Joe Biden as a way to revive U.S. manufacturing of semiconductors and reduce the country's reliance on foreign-made computer chips, will "sharply increase production'' of semiconductors in the United States. But it will do so at a high cost and might not deliver the best bang for the buck, concludes a report out Wednesday by an economic think tank in Washington. Researchers…