Next News Network

The Biden administration is deluding the American people once again with their propaganda regarding the so-called “Inflation Reduction” Act (IRA). Instead of reducing inflation, this disastrous legislation has only been used to elevate climate change activists to untold heights of power and wealth. Celebrating the one-year anniversary of this blatant handout to the environmental lobby, the Biden administration touts it as a significant victory for the nation’s economy.

This $1 trillion bill, rammed through Congress by the Democrats, has been touted by liberal media outlets as “the most significant climate legislation in United States history.” However, the truth is much different than what their liberal masters tell them. According to Energy Innovation Policy and Technology LLC® modeling, the $370 billion in climate and clean energy investments included in the IRA could ultimately result in a 43% reduction of GHGs by 2030, which is not only a pipe dream but also ignores the economic wreckage it will cause.

Instead of allowing the market to determine the most efficient energy sources, the IRA places the government and climate change activists in control of our nation’s energy policy. The IRA aims to destroy the coal industry and reduce its usage drastically, resulting in skyrocketing energy prices and lost jobs for miners and other workers in related industries. The legislation’s $5 billion provision provides low-cost loans to utilities to reduce their coal debt and reinvest in clean technologies, essentially handing over huge amounts of taxpayers’ money to support leftist agendas. This handout would force taxpayers to pay for the whims of these activists.

Furthermore, $9.7 billion in financial assistance will be provided to rural electric cooperatives to move towards clean energy sources, which are far more expensive than conventional energy sources. It is not only a gross waste of taxpayers’ money, but these policies are bound to cause electric bills to skyrocket for ordinary Americans.

Finally, while President Biden boasted of the success of his favored electric bus company at the White House recently, it went bankrupt. Anyone can see that this administration is spewing propaganda to advance its agenda, without regard for the way it will hurt ordinary people. The Biden administration’s funding for alternative energy is not based on market demand or even on proper scientific evidence but on the pro-abort Green movement. This administration is promoting an extremist agenda that will destroy our economy and cause chaos in the energy sector, all the while enriching their wealthy allies.