The Biden administration is celebrating the one year anniversary of the deceptively named "Inflation Reduction" Act -- IRA -- by touting the legislation as what it really is: a massive handout to climate change activists.
John Podesta just spent three minutes at the White House press briefing explaining how the "Inflation Reduction Act" is actually just a massive piece of climate legislation. pic.twitter.com/FcyAZTgyrF
— Townhall.com (@townhallcom) August 16, 2023
When the $1 trillion bill passed solely by Democrats on Capitol Hill, Forbes classified the legislation as the "most significant climate legislation in United States history."
"The Inflation Reduction Act (IRA) is the most significant climate legislation in United States history. Energy Innovation Policy and Technology LLC® modeling finds the IRA’s $370 billion in climate and clean energy investments could cut U.S. greenhouse gas (GHG) emissions up to 43% below 2005 levels by 2030," Forbes published.
"Though the clean energy transition is happening, coal retirements must be accelerated to reach our climate goals. The IRA will speed the shift from coal to clean and support a just transition by providing $5 billion to back $250 billion in low-cost loans for utilities to reduce coal debt and reinvest in clean technologies. Another provision provides $9.7 billion in financial assistance for rural electric cooperatives to move toward clean energy sources," the report continues.
Meanwhile, an electric bus company touted by President Joe Biden at the White House went bankrupt last week.
Joe Biden's FAVORITE electric vehicle manufacturer is going bankrupt, after the president praised it as "innovative" and promised it would "need more room" for customers.
— Townhall.com (@townhallcom) August 8, 2023
Biden's Secretary of Energy had deep ties to the company, and even sat on Proterra's board. pic.twitter.com/j5n163Sjfy
Kamala and Biden’s golden boy just filed for bankruptcy. Taxpayers were funding Proterra, America’s biggest electric bus company, and now the money’s missing. The whole thing was a political pump and dump scheme and top Democrats were all involved. pic.twitter.com/ZPzTgDMn2S
— Jesse Watters (@JesseBWatters) August 9, 2023