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| | In addition to raising corporate taxes, this bill would supposedly more than triple [[green energy]] production, by allegedly adding 550 gigawatts of electricity from wind, solar and other renewable energy sources.<ref>So claims the American Clean Power Association, which further asserts that this could power 110 million homes.</ref> | | In addition to raising corporate taxes, this bill would supposedly more than triple [[green energy]] production, by allegedly adding 550 gigawatts of electricity from wind, solar and other renewable energy sources.<ref>So claims the American Clean Power Association, which further asserts that this could power 110 million homes.</ref> |
| | + | ==Analysis== |
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| | + | Sen. [[Joe Manchin]] (D-WV) caved into providing the vote to enact an anti-coal, anti-oil energy bill when [[Dem]]s fraudulently called it the Inflation Reduction Act. After the bill passed by 51-50 in the Senate, suddenly liberals began referring to it as the climate change bill. |
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| | + | This boondoggle is a massive handout to California, the electric car company Tesla, and other suppliers of inefficient green energy. Electric cars are California’s largest manufactured export, and this federal bill removes existing limits on a $7,500 tax credit for purchasing an electric car. |
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| | + | This bill also creates a $4,500 tax credit for buying a used electric car, which harms the Detroit-based producers of the more efficient gasoline-power autos. People now have a taxpayer-subsidized reason to buy a used electric car, rather than a new traditional car from Ford. |
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| | + | This bill was heavily supported by Big Tech companies located on the Left Coast, including the Silicon Valley Leadership Group. By transferring wealth from the Midwest and South to California, it is no surprise that California companies like Intel would support this. |
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| | + | This legislation adds tax credits for battery manufacturing, wind turbines, and rooftop solar panels. Offshore wind turbines are exorbitantly expensive and produce less than 1% of the world’s electricity, in addition to being an eyesore that blights the beautiful horizon. |
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| | + | Tossing hundreds of billions of dollars down the climate change rabbit hole is not productive, and will not reduce inflation. Some of that money simply flows back to fund liberal political candidates, who already have fundraising advantages over conservative. |
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| | + | Manchin “sold West Virginia out,” Trump declared on August 6, 2022, in his speech in Dallas to the Conservative Political Action Conference, known as CPAC. At his rally in Wisconsin the night before, Trump promised to campaign against Manchin in West Virginia, a state Trump won by 40 points. |
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| | + | Manchin agreed to this bad bill in exchange for a promise by other Democrats to allow the Mountain Valley Pipeline to complete construction. A federal appellate court has interfered with completion of that project but Manchin has reportedly received assurances that jurisdiction will taken away from the court to interfere further. [[Withdrawal of jurisdiction]] is used by the Left to advance their goals. |
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| | == Breaking ATR anti-tax pledge? == | | == Breaking ATR anti-tax pledge? == |