- Democrats have inserted numerous provisions and subsidy programs into their $3.5 trillion budget that would benefit green energy companies and speed the transition to renewables.
- “The whole thing is ridiculous,” Myron Ebell, the director of the Center for Energy and Environment at the Competitive Enterprise Institute, told the Daily Caller News Foundation. “It would be laughable except it’s not laughable because it’s going to have tremendously negative economic consequences.”
- The budget would include a credit worth as much as $12,500 for consumers who purchase a new electric vehicle, $2,500 for electric motorcycles purchased and even $1,500 for electric bicycles, according to Ebell.
- A key part of the budget is the $150 billion Clean Electricity Performance Program — the centerpiece of the bill’s climate agenda — which would incentivize energy companies to produce fewer emissions through a series of grants and fees.
Democrats have inserted numerous provisions and subsidy programs into their $3.5 trillion budget that would benefit green energy companies and speed the transition to renewables.
The Build Back Better Act would invest an estimated $295 billion of taxpayer money into a variety of clean energy programs in what would amount to the most sweeping climate effort passed by Congress, according to a House Committee on Energy and Commerce report. That price tag doesn’t factor in the other costly measures approved by the House Ways and Means, Agriculture, Natural Resources, Oversight and Transportation committees last month.
“This bill is crammed with green welfare subsidies, specifically for corporations and the wealthy,” House Ways and Means Ranking Member Kevin Brady told the Daily Caller News Foundation in an interview.