Posted on 02/09/2024 1:40:07 PM PST by ChicagoConservative27
The cost of the Inflation Reduction Act’s energy and climate provisions is now expected to be significantly higher than previously projected, at least partially because of greater-than-anticipated investment in climate-friendly technology.
The Congressional Budget Office (CBO) revised its projections this week, greatly increasing how much it believes the law’s energy tax credit-related provisions will cost.
“The costs of energy-related tax provisions are much higher than the staff of the Joint Committee on Taxation originally projected,” CBO Director Phillip Swagel said.
One of the factors the agency cited is a greater number of people expected to claim tax credits for electric vehicles, as proposed environmental regulations push the market in that direction and the Treasury Department issues flexible guidance for the credits.
(Excerpt) Read more at thehill.com ...
Reducing inflation by spending borrowed money is a contradiction in terms.
“Greater than expected…”
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Jeez, who knew that there would be no shortage of parasites clambering for access to FREE OTHER-PEOPLE’S-MONEY.
Industries spending/buying long range political favors/donations base.
The whole “Green” agenda is the socialists buying long term political favors with industries dependent on the “Green” subsidies and mandates. The socialists had to do that, for their own protection, because they were running out of industries that would support them.
I will give the Democrats credit for one thing. They are good at picking great names for terrible ideas. The “Inflation Reduction Act” is a perfect example.
“Inflation Reduction Act”
Only Congress is stupid enough to believe this.
Investments? More like flushing newly printed money down the toilet.
That's the goal in this whole global warming scam.
America needs a do-over, where 80% or more of the government is eliminated as un-necessary, and un-Constitutional.
Gonna take a generation of two to realize they are used-up.
Claude rains, paging mister Claude Rains, to the white courtesy phone please.
Have you ever noticed that when Democrat policies are involved you hear the word “unexpected” a lot when the results are released?
We pay twice...for the very expensive vehicles...and for the subsdies...and you can bet down the road...we’re going to be paying premium for a shot at the EV filling station.
Let’s not forget these other greats, Affordable Care Act, Community Reinvestment Act, LBJ’s Great Society…….
‘Industries spending/buying long range political favors/donations base.
The whole “Green” agenda is the socialists buying long term political favors with industries dependent on the “Green” subsidies and mandates. The socialists had to do that, for their own protection, because they were running out of industries that would support them.’
Bump
The only question in this is do hybrids get the tax break?
Because last year particularly it was hybrid sales that grew sharply.
Those who thought the inflation reduction act reduces inflation are so silly.
One of the ‘giants’ of wind power/other people’s money is a European company named Orsted. Orsted withdrew from several US East Coast wind projects. Even with
$$-billions-$$ of taxpayer $$$ up front, Orsted claimed east coast wind power was not economically feasible. Now, Orsted is downsizing significantly. Just like Solyndra, I’m sure the higher ups received their millions before they bailed, with the usual 10% for the Big Guy.
Free enterprise will sort it out if the giverment will just drop dead.
New London and Hartford
A couple of the many criminal outposts for grotesque quasi-governmental hedge fund/ corporate wind energy taxpayer-raping thieves
Owning a ev or not ALL our electric bills are going to skyrocket
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