TL/DR –
The Biden Administration has used the Inflation Reduction Act (IRA) to distribute more than $1 trillion in climate funding, including $50 million to The Climate Justice Alliance, according to Senator Shelley Moore Capito’s office. This left-wing group, which plans to use the money to fund community-based organizations addressing environmental health and justice issues, has also advocated for various unrelated causes, such as freeing Palestine and dismantling capitalism. The author criticizes this as a misuse of taxpayer funds, arguing it supports radical initiatives rather than focusing on real climate solutions.
The Inflation Reduction Act and its Impact on Taxpayers
The Inflation Reduction Act is back in the headlines, this time benefiting a group of extremists while leaving the taxpayers to foot the bill. The action is causing a stir due to its controversial fund allocation.
The Wall Street Journal reports that the Biden Administration is using funds from the Inflation Reduction Act (IRA) to support a left-leaning group advocating for everything from freeing Palestine to dismantling capitalism.
Democrats have appropriated $3 billion from the IRA to the Environmental Protection Agency for “environmental justice” grants. In December, the EPA allocated $50 million to the nearly 90 affiliates of the Climate Justice Alliance. The funds will be used to support grassroots organizations tackling past, current, and future environmental health and justice issues.
The Climate Justice Alliance also coordinated a “March on Washington,” promoting slogans such as “Free Palestine Is a Climate Justice Issue” and “Only Socialist Revolution Can Stop World War III.” The group’s website provides a collection of anti-Israel art for Palestine solidarity protests.
The site states that “more than $3 trillion will move through federal agencies” from the IRA and 2021 infrastructure law. The group encourages grassroots organizations to influence how these funds are allocated.
Green Energy and Its Cost Implications
On a related note, my recent Hoot of the Day discussed how Chinese wind turbine manufacturers are pricing their EU rivals out of the market by 50%, to the delight of authorities pushing for greenhouse gas reductions.
Despite cheaper options, some prefer to pay 100% more for wind turbines in pursuit of clean energy goals.
Automobiles and Housing Tariffs
Despite China not selling cars in the US, Biden still aims to increase tariffs on electric vehicles (EVs).
This decision has left many puzzled, as it conflicts with the president’s promotion of EVs.
And it’s not just automobiles. The National Association of Home Builders reports that the US is expected to increase lumber tariffs this summer, resulting in costlier building materials.
What’s Next?
With continuous inflationary and regulatory changes, one has to wonder if we are ready for another four years of this trend or whether it’s time for change. While Trump also supports imposing tariffs, his energy policy looks more promising, and he’s unlikely to spend billions on “climate justice” during an economic downturn.
—
Read More US Economic News