“$1.347 Trillion Green New Steal” Unveiled
TL/DR –
The article discusses the Biden Administration’s renewable energy policies, which it claims are damaging to the US economy. It highlights three policies: the “Inflation Reduction Act” with $1.2 trillion invested in green spending, tax credits for electric vehicles, and subsidies for solar and wind manufacturing; the “Wasteful Infrastructure and Investments Job Act” with $120 billion for “climate resilience” measures, clean power and infrastructure upgrades, and loan guarantees for renewable energy industries; and the “American Rescue Plan Act” with $27 billion. The total estimated cost of these policies is $1.347 trillion.
The Biden Administration’s Green Energy Policies
The Biden Administration’s pledge for clean, low-cost renewable energy results in massive investments in energy policies that could hamper the American economy, with notable examples including:
The “Inflation Reduction Act” – $1.2 Trillion:
- Grants $250 billion in green spending for energy infrastructure upgrade.
- Reserves $393 billion for electric vehicle (EV) and EV battery production.
- Expands clean electricity tax credits to an estimated $274 billion through 2031.
- Finances the $193 billion “45x program” for intermittent solar and wind power generation.
The Infrastructure and Investments Job Act – $120 Billion:
- Allocates $50 billion to “climate resilience” plans.
- Authorizes $65 billion for clean power, clean energy transmission, and EV infrastructure, which are intermittent and unreliable.
- Forms over $4.5 billion in loan guarantees to favor certain renewable energy industries.
The American Rescue Plan Act – $27 Billion:
Estimated total cost for President Biden’s “Green New Steal?”
$1.347 Trillion in taxpayer dollars.
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