Biden’s big semiconductor law will ramp up U.S. chip production — but at a high cost, report finds

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.

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