Tag: Inflation Reduction Act

Commentary: The Consequences of Delaying Offshore Oil and Gas Lease Sales

RealClearWire
Offshore oil rig

Offshore drilling has been a cornerstone of global energy production since the 1800s, fueling the American way of life and powering the global economy. From the early days of “on-water-drilling” to the advancement of the fixed platform units of today, offshore drilling has consistently contributed around 30 percent of global oil production. In the U.S., supply on federal offshore lands in the Gulf of Mexico alone accounts for approximately 15 percent of total crude oil production.

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Biden’s Signature Bills are Pumping Billions into Swing States as 2024 Elections Draw Near

South Carolina Sun Staff
President Joe Biden

President Joe Biden’s signature pieces of legislation are routing billions of dollars into swing states, but pundits are not convinced that the money will make much difference in November’s elections.

The bipartisan infrastructure law of 2021, the CHIPS Act and the Inflation Reduction Act (IRA) have cumulatively routed billions of dollars to battleground states over the course of Biden’s first term. The Biden campaign is running swing state ads to promote the funding and projects that Biden’s legislative agenda has created, but state and national pundits told the Daily Caller News Foundation that the benefits are unlikely to be a decisive factor in states like Arizona, Michigan and Pennsylvania.

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Commentary: If Republicans Want Better Legislative Outcomes, Trump Needs to Win Greater Majorities by Playing for the Popular Vote

South Carolina Sun Staff
Donald Trump at rally

Since 1960, Democrats have won the popular vote in 10 out of the last 16 presidential elections, and thanks to a combination of historical realignment (beginning during the 1930s), presidential coattails and the incumbency advantage, have also won U.S. House majorities in 11 out of those 16 contests, oftentimes with super majorities.

The modern story over U.S. House control, and therefore legislatively shaping the society of laws we live in presently, begins in 1932 when Franklin Roosevelt and Democrats utterly crushed Herbert Hoover’s reelection bid, winning 57.4 percent of the popular vote and 42 states to Hoover’s meager 39.6 percent and 6 states.

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‘The Swamp is Getting Deeper’: EPA Awards Billions from Biden’s Landmark Climate Bill to Organizations Loaded with Democrat Insiders

South Carolina Sun Staff
President Biden signing a bill

The Environmental Protection Agency (EPA) awarded nearly $14 billion Thursday to three organizations with deep ties to the Biden administration and the Democratic Party.

The EPA announced the winners of $20 billion of funding from the massive Greenhouse Gas Reduction Fund (GGRF), a program created by President Joe Biden’s signature climate bill, the Inflation Reduction Act. Among the selected awardees are Climate United, the Coalition for Green Capital and Power Forward Communities, three groups that are taking home almost $14 billion combined to establish financing operations for a wide variety of green technology and energy projects under the GGRF’s National Clean Investment Fund.

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Green: Taxpayers’ $3 Billion Supplying Clean Ports Program

The Center Square
NC Port

The Biden administration’s choice for zero-emissions operations in America’s ports was boosted Wednesday with the opening of applications for $3 billion from taxpayers in the Clean Ports Program.

Equipment and infrastructure needs can be met that “reduce mobile source emissions at U.S. ports,” a release from the U.S. Environmental Protection Agency says. EPA Administrator Michael Regan was in Wilmington, N.C., alongside Gov. Roy Cooper, whose administration he previously worked in, to make the announcement.

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Chinese Solar Companies are Gearing Up to Cash in on Biden’s Signature Climate Bill

South Carolina Sun Staff
Solar Panel Installation

Chinese solar manufacturers are building factories in the U.S. to reap American subsidies created by the Inflation Reduction Act (IRA), President Joe Biden’s signature climate bill, according to The Wall Street Journal.

Companies based in China are responsible for about 25% of the 80 gigawatts in new solar manufacturing capacity announced in the U.S. since the IRA became law in August 2022 and established robust tax credit programs to incentivize domestic green energy production, according to the WSJ. Assuming that the factory construction and expected outputs announced by these China-based solar companies stay on schedule, they could reap a combined $1.4 billion worth of value from IRA subsidies each year.

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Senators Raise Questions about EV Mandates and Subsidies Going to China

Just the News

The Senate Committee on Energy and Natural Resources has been scrutinizing the intersection of electric vehicle mandates and supply chains to meet them, and how EV subsidies could empower China, which controls a lot of those supply chains.

Sen. Joe Manchin, D-W.Va., chair of the committee, said he doesn’t have any problem with electric vehicles.

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