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Tipsheet

Inflation Reduction Act or a Disguise for the Left's Green New Deal?

J. Scott Applewhite/AP Photo

Last week the Inflation Reduction Act passed the Senate after a long 24 hours of Republicans and Democrats going back on forth to vote on amendments. 

By now it is well known that whatever Democrats claim something, just expect the opposite. Such as the name of the bill for instance: “Inflation Reduction Act.” 

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Several experts have voiced their concern that the bill will do nearly nothing to combatting inflation or it will make the economy worse off. Even the Congressional Budget Office has predicted the Left’s jacked up spending bill will actually drive prices up, contrary to what they say it will do. 

Putting that aside what the bill will and won’t do aside, it’s important to note what critics are renaming the Sen. Joe Manchin (D-W.VA) and Sen. Chuck Schumer’s (D-NY): the radical Green New Deal. 

They argue that the act will not only drive prices up, it will make the U.S. less energy secure and do virtually nothing for the environment. 

Sen. Marsha Blackburn (R-Tenn) said that the Inflation Reduction Act is just another way of getting Democrat’s radical, socialist climate czar bill passed. 

The Joint Committee on Taxation noted that $370 billion in spending and tax credits goes towards climate and energy. 

The Epoch Times points out that this new bill isn’t far off from previous Green New Deals. 

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An example of this is the reauthorization of wind leasing in the eastern Gulf of Mexico and the mid- to south Atlantic coast, with incentivizes domestic production of wind and solar technology through tax credits.

The tax increases for coal, crude oil and natural gas which vow to “massively [raise] taxes on corporate polluters’ and investors’ fossil fuel income and wealth,” is similar to other climate bill proposals. 

At the end of the day, Democrats included their climate issues on the bills that they so often like to push, however most of it was disguised as efforts to bring inflation down so that it appeals to Americans. 

A recent Gallup poll found that Americans are far less concerned in combating so-called climate change than they are in fighting for restoring less inflation, gas prices and the economy in general. 

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