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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.
Class enemies are justified in their trembling.
The Cheka has prepared lists.
The Cheka has prepared camps.
The Cheka has prepared.
Totally. It’s not like working class people suffer disproportionately from environmental pollution or climate change. Let’s continue to protect the oil and gas industries. After all, they’ve always cared for the welfare of the poor!
You class war mentality is laudable, but you have your facts all mixed up.
Is it not true that concentration upon exploiting petroleum for purposes or qualities other than lubricity have resulted within the last two centuries in the most profound improvements in the quality of life, and in the creation of potentials previously unimaginable, in the history of our species?
You’re insane, you know that?
Regardless of what the Republicans or Democrats want in regard to the Federal budget, it will have very little effect in reducing the Federal budget deficit each year. As for the so called savings of 4.5 trillion dollars according to Kevin McCarthy, I am so amused at his statement I wonder if he has ever taken an accounting course in college.
If he want to make a real impact in reducing the Federal Budget deficit, then reduce spending by 500 billion dollars and increase taxes by 500 billion dollars per year would go a long way in solving that problem. As long as corporations have all sorts of tax credits that they use to reduce their tax liability and more than 40% of individuals and families in America pay no Federal Income taxes whatsoever. then kiss America goodbye when the roof falls in on everyone.
I know it will never happen. The reason being that Americans like freebies and don’t care how someone else should pays for it. Of course, no one else does pays for it. America just continues to borrow the money to pay for it. Well, you better have a Plan B when it all comes to an end.
For you information, the new Biden budget for 2024 is projected to have a budget deficit of 1.5 trillion dollars. Think about that for awhile.