The ‘Inflation Reduction Act Of 2022‘ Will Only Waste Hundreds Of Billions & Create More Inflation
✪ If Congress were to introduce a bill to nuke the entire country, they would call it the “Save America Act of 2022″. In that same spirit, a corrupt arrangement by Senate Democrats to spend hundreds of billions of dollars to worsen inflation with corrupt spending has been dubbed the “Inflation Reduction Act of 2022.”
What could possibly reduce inflation better than a $700 billion bill with “$369 billion for climate and clean energy provisions?”
There’s billions more for worthless solar and wind as kickbacks to China and the green investors who fund the Democrats.
A $10 billion investment tax credit to manufacturing facilities for things like electric vehicles, wind turbines, and solar panels, and $30 billion for additional production tax credits to accelerate domestic manufacturing of solar panels, wind turbines, batteries and critical minerals processing. It would also include up to $20 billion in loans to build new clean vehicle manufacturing facilities across the U.S., and $2 billion to revamp existing auto plants to make clean vehicles.
Because we just haven’t spent enough money on this for the last two decades.
That’s over $20 billion to build more cars that working-class and most middle-class people can’t afford at a time when inflation has put the price of ordinary cars out of reach.
Cutting emissions, including $20 billion for the agriculture sector and $3 billion to reduce air pollution at ports. It also includes unspecified funding for a program to reduce methane emissions, which are often produced as a byproduct of oil and gas production, and are more than 80 times as potent as carbon dioxide in warming the atmosphere. In addition, the act allocates $9 billion for the federal government to buy American-made clean technologies, including $3 billion for the U.S. Postal Service to buy zero-emission vehicles.
The great Elizabeth Warren priority of getting the Post Office to buy mail trucks that don’t work, despite the postmaster repeatedly insisting that mailmen need affordable delivery trucks that do work.
Bug Big Green donors gotta get paid. And you’re paying them.
A $27 billion clean energy technology accelerator to support deployment of technologies that curb emissions and $2 billion for breakthrough energy research in government labs.
In short, more payoffs to Democrat donors that will accomplish absolutely nothing.
Support for states, including about $30 billion in grant and loan programs for states and electric utilities to advance the clean energy transition.
Environmental justice initiatives, amounting to more than $60 billion to address the unequal effects of pollution on low-income communities and communities of color.
So about $90 billion in total to Democrat community groups and consultants ripped out of the hands of struggling American families.
For individuals, a $7,500 tax credit to buy new electric vehicles and a $4,000 credit for buying a new one.
More subsidies for Tesla, Japanese and Korean car companies.
“I support a plan that will advance a realistic energy and climate policy that lowers prices today and strategically invests in the long game,” Manchin said in a statement on Wednesday. “This legislation ensures that the market will take the lead, rather than aspirational political agendas or unrealistic goals, in the energy transition that has been ongoing in our country.”
Nothing says the “market will take the lead” like $300+ billion in government subsidies.✪
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