Tag: Inflation Reduction Act

Trump Will Redirect Billions in Unspent Funds from Biden’s Climate Law to ‘Real Infrastructure’

Daily Caller News Foundation
Construction Plans

President-elect Donald Trump is planning to redirect unspent Inflation Reduction Act funding to spending on infrastructure, the Daily Caller News Foundation has learned.

“President Trump will rapidly defeat inflation and bring down all prices by ending the Democrats’ anti-energy crusade, which will cut energy prices in half during his first 12 months in office,” Karoline Leavitt, Trump-Vance transition spokeswoman, told the DCNF in a written statement. “He will also terminate the Green New Scam and rescind all unspent funds from the so-called ‘Inflation Reduction Act’ and redirect them to spending on real infrastructure.”

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Biden-Harris Admin Routed ‘Environmental Justice’ Cash to Left-Wing Activists, House Report Details

Daily Caller News Foundation
Climate Justice Alliance

The House Energy and Commerce Committee released a new report Monday detailing how the Biden-Harris administration has given huge amounts of taxpayer cash to left-wing activist groups under the guise of “environmental justice.”

The report highlights how the Biden-Harris Environmental Protection Agency (EPA) used hundreds of millions of dollars from the Inflation Reduction Act (IRA) — President Joe Biden’s signature climate bill — to line the pockets of left-wing activist groups aligned with the administration’s sprawling climate and green energy agendas. The use of taxpayer funds to support these activist groups, some of which already receive considerable financial support from large environmentalist outfits like the Environmental Defense Fund and the Energy Foundation, is arguably “akin to a taxpayer-funded lobbying operation,” the lawmakers argue in the report.

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Commentary: The Role of Federalism in Trump’s Second Term

RealClearWire
Donald Trump

The presidential election is in its final stretch and the race is neck-and-neck, according to the polls. The outcome will have a profound impact at all levels of government and business, so preparing for a second Trump term would be prudent.

In office and on the campaign trail, former President Trump has championed federalism and granting the states greater latitude to implement policies and programs. He has voiced a commitment to reducing the footprint of federal regulations. As president, he implemented executive orders and other actions that sought to ease regulatory costs and effects. The Trump Administration also galvanized deregulatory efforts at the state and local level through the Governors’ Initiative on Regulatory Innovation. A similar effort can be expected in a second term.

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Former Biden EPA Head and Climate Adviser Admits Green Energy Challenges Underestimated

Just the News

Former EPA administrator and climate advisor Gina McCarthy was a key backer of the Inflation Reduction Act (IRA). The law set the country on an aggressive march toward greenhouse gas emission reductions, including advancing wind and solar. By some estimates, the green energy credits in the law alone will cost $3 trillion over their lifetimes.

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New Biden-Harris Medicare Pan Could Cost Taxpayers $20 Billion in Election-Year Giveaway, CBO Warns

Just the News
Doctor

In an election-year stunner, the Congressional Budget Office is warning the Biden-Harris administration’s new Medicare prescription drug plan could cost taxpayers more than $20 billion over three years.

The budget analysis arm of Congress said the increased costs are due to the government subsidizing many seniors’ premiums by sending money to insurance firms, and it would cost at least $5 billion extra in 2025 alone and add to the deficit.

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Solar Developments Are Spreading Across America, Threatening Farmers and Local Communities

Just the News
Solar Farm

Fueled by massive federal subsidies in the Inflation Reduction Act (IRA), solar developers are looking to the wide open spaces of rural lands as the best places to site their projects. This is also where much of America’s farm and range land is located, as well as communities that like the existing look and character of their neighborhoods.

Last week, President Biden said of the IRA, “I’m proud to announce that my, uh, my investments, that through my investments, the most significant climate change law ever. And by the way, it is a $369 billion bill. It’s called the — uh, we, we should have named it what it was.”

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Commentary: Two Years On, the IRA Is Exactly What Its Critics Said It Would Become

Daily Caller News Foundation
Joe Biden

In a recent interview, World Energy Council Secretary General Angela Wilkinson told me that one of the main impediments to the energy transition today is a lack of what she calls “systems thinking.”

“Energy transitions are a change in the organization of society,” she pointed out. “They’re not a simple case of swapping out one technology for another and everything else stays the same. Yet, we have this very simplistic narrative that we can take the oil system, we can put renewables in, it’s going to happen immediately, and nothing else will change. It’s like saying we’re going to take your thighbone out, but we’d like you to run a marathon.”

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National Debt Reaches $35 Trillion for First Time in U.S. History

South Carolina Sun Staff
National Debt

The national debt surpassed $35 trillion on Monday for the first time in U.S. history as exorbitant federal spending continues under President Joe Biden.

Since Biden was inaugurated, the national debt has increased by over $7 trillion, from $27.7 trillion on January 20, 2021 to now over $35 trillion as of July 29, 2024. If the debt were to be divided among the roughly 258.3 million adults in the U.S., each adult would have roughly $135,500.

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Janet Yellen Calls for $78 Trillion to Tackle Climate Change

South Carolina Sun Staff
Treasury Secretary Janet Yellen

U.S. Treasury Secretary Janet Yellen said during a speech in Belem, Brazil, on Saturday that the price tag for a global transition to a low-carbon economy amounts to $78 trillion in financing through 2050.

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Report Finds One Of Biden’s Favorite Green Industries to Miss 2030 Target by Years Despite Billions In Subsidies

South Carolina Sun Staff
Offshore Wind Farm

Offshore wind is likely to miss the Biden administration’s 2030 target for the industry despite receiving billions of dollars of subsidies, according to a Tuesday American Clean Power Association (ACP) report.

The administration has a stated goal of having the offshore wind industry provide 30 gigawatts (GW) of power by 2030, but the ACP report projects that capacity will only reach about 14 GW by then. The Biden administration has subsidized the industry to the tune of billions of dollars since assuming office in 2021, but those efforts appear unlikely to put the 2030 target in reach until at least 2033, per ACP’s analysis.

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