President Joe Biden's legislative agenda has sprung back to life amid consideration of Senate Democrats' budget reconciliation bill for 2022 that will contain $369 billion of green subsides for solar, wind and electric vehicles, and another $25 billion of additional taxes on the fossil fuel industry.
Biden’s budget will do the opposite
- Eliminate oil, coal and gas tax credits, resulting in an additional $25 billion of revenue over the next ten years.
- $369 billion of green subsidies, including $250 billion for new refinancing and investment tools to reduce consumer electricity costs through reinvestment at existing and retired energy infrastructure sites, a $27 billion green infrastructure bank, and "$40 billion in loan authority to help innovative energy technologies, like energy storage, battery and building efficiency technologies reach commercial deployment."
The goal is to strangle the U.S. carbon energy industry
- Biden's green economic transformation should have been postponed, but sensing Congress is slipping through his grasp with the November midterms rapidly approaching he is proceeding apace with his anti-carbon agenda
- In the latest Economist-YouGov poll only 11 percent said climate change and the environment was their most important issue. 22 percent say inflation, and prices, and another 11 percent say the economy and jobs.
- This is all a huge gamble - that the public won't overwhelmingly turn against this carbon energy starvation plan in 2022 - and again in 2024
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