“They’d rather threaten to default the U.S. economy”
How determined is Biden to continue the Inflation Increase Act’s corrupt green subsidies? This determined.
President Biden on Friday swiped at Republican calls to end clean energy tax cuts as part of a debt limit increase as he signed an executive order creating a new White House Office of Environmental Justice.
“The MAGA Republicans in Congress want to repeal climate protections in the Inflation Reduction Act. They’d rather threaten to default the U.S. economy … than get rid of $30 billion in taxpayer subsidies to an oil industry that made $200 billion last year,” he said.
Oil and gas power the US economy especially at the working class level.
While Biden yammers about his corrupt green subsidies taking away jobs from “working class folks”, the only people who benefit from them are wealthy Democrat donors.
Speaker McCarthy proposed a modest rollback of some of the crooked subsidies and spending in Biden’s Inflation Increase Act.
The legislation broadly includes both a $1.5 trillion increase in the debt limit and $4.5 trillion in savings, according to Speaker Kevin McCarthy (R-Calif.).
The bill targets tax credits that were included in the Democrats’ Inflation Reduction Act that aim to bolster carbon-free energy sources and combat climate change, including tax credits for electric vehicles as well as solar and wind infrastructure.
So Biden, in his own words would “threaten to default the U.S. economy” to protest tax credits for Tesla owners.
Working-class Americans are being forced to subsidize electric cars for the rich and Biden is willing to default over it.
Article posted with permission from Daniel Greenfield
