Tag: Inflation Reduction Act

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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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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Harris Honeymoon Fizzles as Trump Leads in Sun Belt Battlegrounds

Daily Caller News Foundation
Donald Trump - September 2024

Former President Donald Trump has gained ground and is leading Vice President Kamala Harris in key Sun Belt states, according to a New York Times/Siena poll from Monday.

Trump gained in Arizona and is now leading Harris by five points with the two candidates polling at 50 percent and 45 percent among likely voters respectively, according to the poll. At the same time, Trump has also held onto his lead over Harris in Georgia by four points and in North Carolina by two points.

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Commentary: Thank You Congresswoman Harshbarger for Opposing the Inflation Reduction Act

Admin

Congresswoman Diana Harshbarger was right to vote against the Inflation Reduction Act (IRA) – which ironically enough has caused record and historic inflation. According to the Heritage Foundation year-over-year inflation reached a 40-year high at 9%. This hurts everyone, but especially seniors living on fixed incomes.

All Americans are feeling the pinch of the IRA with real spending power declining at rapid rates. According to the U.S. Inflation Calculator $1,000 in 2020 now takes $1,215.33 in 2024 dollars to have the same amount of purchasing power – this is a 21.5% cumulative rate of inflation since President Biden won election. No wonder the American people are suffering over the past four years. 

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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

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

Admin
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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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

Admin
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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Pennsylvania U.S. Sen. Bob Casey Declares it ‘Impossible’ to ‘Bring These Prices Down’

Tom Pappert
Sen. Bob Casey

Video surfaced on Friday of U.S. Senator Bob Casey (D-PA) declaring in a political event that it will be “impossible” to lower prices that have increased since President Joe Biden entered the White House.

“I’m not proposing that we’re going to be able to bring these prices down. That’s impossible,” Casey acknowledged in a video posted by Donald Trump Jr. to the social media platform X.

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

Admin
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

Admin
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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Virginia Farmers May Receive USDA ‘Climate-Smart Agriculture’ Funds up for Grabs

The Center Square
Farmer Working

Virginia agricultural producers may stand to receive more funding from the Department of Agriculture’s Regional Conservation Partnership Program, as the organization announced another $1.5 billion is available for eligible conservation and climate projects throughout the country.

The program looks to help producers implement “climate-smart agriculture,” or farming practices that replenish natural resources and minimize climate change. This latest tranche of funding comes from the Farm Bill and the Inflation Reduction Act, which the Biden administration has dubbed the “largest climate investment in history.”

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Nashville, Memphis, and Chattanooga Will Receive Federal Funds Through Bloomberg’s American Sustainable Cities Initiative to Lobby for Billions from Biden’s Federal Slush Fund

Matthew Giffin
Mike Bloomberg

Bloomberg Philanthropies announced on Tuesday that three Tennessee cities will take part in an initiative that would use federal funds provided by the Biden administration.

Nashville, Memphis, and Chattanooga were selected for the organization’s American Sustainable Cities Initiative, which stated its focus would be on creating economic equity and green energy jobs, according to a Tuesday news release from Bloomberg Philanthropies. Mike Bloomberg, the former Democratic New York Mayor, founded Bloomberg Philanthropies.

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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

Admin
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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AARP Spent Millions Advocating for New Laws That Likely Benefit a Major Corporate Backer

Admin
Old Person

AARP, an organization that represents the interests of retired Americans, spent tens of millions of dollars promoting provisions in the Inflation Reduction Act (IRA) that likely benefit the bottom line of one of the group’s major corporate backers.

AARP spent more than $60 million between 2019 and summer 2022 advocating for a provision that eventually made it into the IRA allowing Medicare to negotiate with pharmaceutical companies over the prices of certain drugs, according to an article posted on the group’s website. The provisions would require the Department of Health and Human Services (HHS) to negotiate the prices of certain drugs with drug manufacturers starting in 2026.

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Biden Admin Doles Out $600 Million to Activist Groups, Universities for ‘Environmental Justice’

Admin
Climate Protest

The Biden administration is shelling out $600 million in taxpayer funds to grantmaking organizations to distribute for “environmental justice” projects all across the country, the Environmental Protection Agency (EPA) announced Wednesday.

The funds will go to 11 different organizations, which include universities and left-wing groups that focus on advancing social justice causes in addition to their environmental advocacy, according to the EPA’s announcement. Each of the recipients will in turn use the money to provide sub-grants to local organizations to pursue thousands of “environmental justice” projects like environmental jobs training programs and “healthy homes” initiatives.

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Biden Admin Unveils New Green Subsidy Guidelines That Could Allow China to Cash In

Admin

The Biden administration released proposed rules for green manufacturing tax credits on Thursday, leaving the door open for Chinese firms to capture their value.

The proposed guidance, released by the Treasury Department, clarifies the eligibility requirements for Inflation Reduction Act (IRA) subsidies meant to incentivize domestic manufacturing of products like solar panels and electric vehicle (EV) parts, according to its text. The guidelines do not include restrictions on entities linked to adversarial foreign countries, and they would allow for China-tied companies to capture the value of tax credits if they establish operations in the U.S. that meet all other eligibility requirements.

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Biden-Favored EV Bus Maker Proterra Goes Bust and Leaves a Trail of Broken and Irreparable Buses

Just the News

Across the country, towns and cities of various sizes envisioned an electrified public transit system that could shuttle residents with vehicles that produced no carbon-filled exhaust.

Many of those communities purchased buses from Silicon Valley-based Proterra, which was able to produce 550 buses over its 19-year existence before it went bankrupt in August.

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Biden Energy Department Ill-Prepared to Combat Fraud as it Spends Billions on Infrastructure

Just the News

The U.S. Energy Department faces major management challenges ranging from hacking vulnerabilities to foreign espionage and could create “massive new risks to the taxpayer” as it spends tens of billions of dollars in new spending from President Joe Biden’s signature infrastructure initiative, the agency’s internal watchdog warns.

The Office of Inspector General offered a stark assessment of the department under Secretary Jennifer Granholm, pointedly warning losses from fraud in the current infrastructure spending could mirror that seen during the COVID pandemic, where taxpayers now lost an estimated $200 billion government wide.

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Biden Admin Preparing to Finalize Barrage of Methane Regulations

Admin

The Biden administration is gearing up to finalize a host of emissions rules and regulations in the coming months, E&E News reported Wednesday.

The rules and regulations are all focused on methane, a greenhouse gas that is more potent, but dissipates more quickly, than carbon dioxide, and align with the administration’s commitment to attacking climate change with a “whole-of-government” response. The Biden administration is aiming to finalize the slew of methane regulations in the coming months ahead of the 2024 election, which would make the rules more difficult for a potential Republican administration to scrap should President Joe Biden lose, according to E&E News.

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New IRS Guidelines for Electric Car Tax Credit ‘Recipe for Fraud,’ Tax Watchdog Warns

Just the News
EV Charging Station

New Internal Revenue Service (IRS) guidelines for the federal electric vehicle (EV) tax credit are a “recipe for fraud,” warns the head of the Tax Foundation.

Consumers will now be able to automatically claim the tax credit at the point of sale on new or used EV purchases, rather than wait to claim it on their tax return, according to the latest Treasury Department guidance.

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‘Too Favored to Fail:’ Taxpayers Bailout Biden’s Green Friends

RealClearWire

While America struggles to buy groceries, President Joe Biden has a green slush fund worth billions of dollars, and he’s not afraid to use it.

Recent revelations uncovered that the CEO and lobbyists of Rivian, an electric vehicle manufacturer, held a quiet meeting at the White House with Biden’s Climate Czar, John Podesta. That’s right, the same John Podesta who served as chairman of Hillary Clinton’s ill-fated 2016 presidential campaign before being pulled from the ranks of profitable green consulting to oversee distribution of $369 billion from the Inflation Reduction Act (IRA).  Biden selected a political operative with green company ties to dole out the goodies from one of the largest slush funds in history. Now green CEOs who are hemorrhaging cash are beating a path to his White House office, presumedly with hat in hand.

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Pennsylvania Set to Receive $4 Million for Rural ‘Renewable Energy’ Projects

The Center Square

On the heels of $22 million in federal cash for energy efficiency projects, Pennsylvania will get another $4 million more.

The U.S. Department of Agriculture announced that $3.6 million will support another 30 projects for efficiency upgrades and renewable energy projects “to lower energy costs, generate new income, and strengthen the resiliency of their operations in rural Pennsylvania.”

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The Cost of Covering American Roads with EVs Is Raising Some Big Speed Bumps

Just the News

With the passage of the Inflation Reduction Act in 2022, the federal government boosted tax credits, hoping to help American consumers wary of the higher sticker prices for electric vehicles (EVs) to warm up to them. In a further push, in May of this year, the EPA proposed emissions standards on new vehicles that are designed to make 60% of all new vehicle sales to be electric powered by 2030.

The automotive industry responded eagerly to the push for EVs, pledging to transform large portions of their business over to electric lines. A Reuters analysis in October 2022 estimated that 37 global automakers were planning $1.2 trillion in investments in EVs, batteries and materials for the transition through 2030.

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Commentary: ‘EV’s for Everyone’ Mandates are Politically Risky and Practically Disastrous

RealClearWire

If we could imagine a time machine bringing to New York City, an American citizen from the 19th century, odds are the one thing that would seem the most amazing about our time would be the proliferation of the personal automobile. Big buildings, big cities, roads, nighttime illumination would all be imaginable, even if different looking and greater in scale. But the one thing radically different about modern daily life is the convenience and freedoms that come from a car.

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Commentary: Turns Out The IRS Is After You, After All

Admin

When it was first revealed that the so-called “Inflation Reduction Act” provided funding for 87,000 new IRS agents, Biden administration officials told Americans not to worry. They promised at every turn that these agents would only be set upon those earning over $400,000 a year.

But the Act has done nothing to reduce inflation, so it’s hardly surprisingly to learn now that an army of IRS agents has the middle class in its crosshairs.

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Commentary: Voters Will Reject Inflation Reduction Act’s Assault on Medicare

RealClearWire

In the last few weeks, House Subcommittees have conducted important hearings on President Joe Biden’s implausibly named “Inflation Reduction Act” and its assault on Medicare.

The law is an assault on Medicare because it violates a core promise of the program – that in exchange for paying a special payroll tax your entire working life, the program will be there for you when you are older.

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Kyrsten Sinema Lays Out Unorthodox ‘Path to Victory’ in Swing-State Arizona

Admin

Independent Sen. Kyrsten Sinema of Arizona argued her “path to victory” to reclaim her Senate seat in 2024 would be to garner more support from Republicans than Democrats and win the majority of independent voters, according to a donor memo reported by NBC News on Monday.

Sinema has yet to launch a reelection bid, but could face Democratic Rep. Ruben Gallego and former Republican gubernatorial nominee Kari Lake, who is inching toward a campaign, in a general election next year. The senator’s memo argues that if she runs for another term, Sinema could secure the seat with  60 percent to 70 percent support from independents, as well as 25 percent to 35 percent of Republicans and 10 percent to 20 percent of Democrats, according to NBC News.

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DeSantis Turns Down Millions in Incentives from Biden’s Signature Climate Bill

Admin

Republican Florida Gov. Ron DeSantis has effectively rejected nearly $350 million dollars from the Inflation Reduction Act (IRA) designated for use in Florida, according to Politico.

The IRA, President Joe Biden’s signature climate spending bill, sets aside money for rebates for consumers to buy more efficient appliances that the Biden administration is pushing and to help low-income individuals buy solar panels for their homes, according to Politico. DeSantis and the Florida legislature have effectively refused $3 million set aside for cleaning up pollution, $5 million in federal funds to set up the appliance rebates program and $341 million to actually fund that program.

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Biden Peddles Policy Success in Badger State; the Numbers Tell a Different Story

M.D. Kittle

On the one-year anniversary of the ill-named Inflation Reduction Act, President Joe Biden paid a call on Milwaukee to sell his tax-and-spend policies that the White House likes to call “Bidenomics.”

But a lot of Badger State residents who have seen their earnings swallowed up by the inflation fueled in no small part by “Bidenomics” aren’t seeing the benefits the president is touting.

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2024 Presidential Hopefuls Address Questions About the Future of the EPA and Biden Administration’s Climate Legislation

Admin

Several 2024 Republican presidential candidates would defund the Environmental Protection Agency (EPA) and repeal President Joe Biden’s signature climate law if elected, they told the Daily Caller News Foundation.

Gas prices are rising, power plants are closing and regulations are impacting internal combustion engine vehicles and appliances like water heaters. Along with slashing the EPA and repealing the Inflation Reduction Act (IRA), many GOP hopefuls also pledged to withdraw from the United Nations Paris Climate Agreement if they secure the White House in 2024, several candidates told the DCNF.

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One U.S. Solar Company Poised to Rake in $11 Billion in Subsidies

Admin

U.S.-based solar panel manufacturer First Solar may receive up to $11 billion in subsidies from the government thanks to the Inflation Reduction Act (IRA), according to The Wall Street Journal.

The company expects to receive up to $710 million in subsidies this year alone, which is an amount equivalent to nearly 90% of its predicted operating profit for this year, according to the WSJ. Philip Shen, managing partner at investment bank Roth Capital Partners, estimates that the IRA may end up giving First Solar up to $11 billion in subsidies over the course of the next decade.

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Effective Immediately: IRS Ends Unannounced Visits to Taxpayers

Just the News

The IRS on Monday said it is ending its decades-long practice of agency revenue officers making unannounced visits to taxpayers, citing concerns over agent safety and an increase in scammers. 

Unarmed agency employees would visit homes and businesses to collect unpaid taxes and unfiled tax returns. Except for a few unique circumstances, unannounced visits will immediately end and be replaced with mailed letters for taxpayers to schedule meetings, the IRS said.

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Biden Admin to Spend Nearly $1 Billion on Green Upgrades for Fed Buildings

Admin

The Biden administration will spend nearly $1 billion upgrading more than 100 federal buildings with green technology like heat pumps and solar panels, using funds from the Inflation Reduction Act (IRA), The Washington Post reported on Tuesday.

The General Services Administration (GSA) — which manages the U.S. government’s properties —  is planning to make 100 federal facilities all-electric and 28 net-zero emissions, on a budget of $975 million,  according to The Washington Post. The GSA is hoping that will attract roughly another $925 million in private sector investment, bringing total funding to roughly $1.9 billion, in an effort to revamp 40 million square feet of federal property, which is roughly 20% of all buildings managed by the GSA.

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Kemp Says $4.3 Billion EV Battery Plant in Georgia Touted by Ossoff Was ‘Previously Announced’

The Center Square

LG Energy Solution and Hyundai Motor Group plan to jointly build a $4.3 billion electric vehicle battery plant in Georgia, an investment U.S. Sen. Jon Ossoff, D-Georgia, said was possible because of incentives included in the Inflation Reduction Act.

However, a spokesman for Georgia Gov. Brian Kemp disputed that assertion saying it’s part of a previously announced investment that predates the federal legislation.

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Commentary: BlackRock’s Larry Fink and the New Post-ESG Realism

RealClearWire

As regular as the turn of the seasons, each January sees Larry Fink, founder and CEO of BlackRock, the world’s largest asset manager, publish a lengthy letter on the state of the world and its implications for finance and investors. This year, January turned to February, and still no letter. Instead, February saw Tim Buckley, CEO of Vanguard, global number-two asset manager, give a groundbreaking interview explaining Vanguard’s decision late last year to quit the Net Zero Asset Managers (NZAM) initiative, which had been formed ahead of the 2021 Glasgow climate conference to reallocate capital in line with net zero emissions targets.

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