http://twitchy.com/amy-curtis/2024/02/13/inflation-reduction-act-exploding-costs-n2392782
We all knew the so-called 'Inflation Reduction Act' was an environmental, big spending bill that wouldn't have seen the light of day if not for its Orwellian title. Even Biden doesn't refer to the legislation by its name.
So in news that will surprise precisely no one, the costs of the green energy provisions in the bill will be astronomically higher than originally projected.
John Hasson (@SonofHas) ~ Per the CBO, the Inflation Reduction Act's energy provisions will cost $428 BILLION more than originally projected.
http://thehill.com/policy/energy-environment/4459138-greater-than-expected-investment-electric-vehicles-wind-solar-swells-inflation-reduction-act-cost-cbo/
Of course it was a LIE ... it was passed wholly by Democrats.
More from The Hill:
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.
At a time when we just don't have the money for anything, what's another several hundred billion?
John Hasson (@SonofHas) ~ But remember, all this spending reduces inflation, or something.
Sure it does.
Bob’s your Uncle (@p8riot) ~ Does the CBO use new public school math to screw up their original estimates this bad?
Probably.
Irwin R. Schyster (@I_R_Schyster) ~ Republicans pounce!
That'll be the headlines. Not the lies about the 'Inflation Reduction Act' or how disastrous it is, but how Republicans react to it.
Robert McLaws (@robertmclaws) ~ The Affordable Care Act that raised the price of health care ...
The Inflation Reduction Act that continues to make inflation worse ...
It’s almost as if Jim Cramer is naming these things!
Government makes everything worse.
Ratiohead (@RandoRanting) ~ Isn't it kinda weird how the CBO's projections are always short by astonishing amounts? It's almost like its sole purpose is to lie about the true cost of legislation in order to get it passed.
Totally weird.
Sarcastic Cupcake (@SarcasticCupcak) ~ So in other words, not actually reducing inflation.
No. That was never the goal.
The Doctor (@TennantRob) ~ The government NEVER comes in under budget. Didn’t the @USCBO score the bill originally? Wasn’t it going to reduce the deficit by $238B in Monopoly money? So it’s actually a $200 billion INCREASE In deficit spending.
Robbb (@bommrob) ~ And now we just wait for the experts to tell us how going over budget by $428B actually REDUCES the debt.
Of course they will.
unseen1 (@unseen1_unseen) ~ LOL. Are you tired of being lied to by the politicians?
So tired.
Chris Matthiesen (@c_matthiesen) ~ Meanwhile, auto manufacturers are reducing or even eliminating EV vehicles and municipalities are mothballing their EV fleets. We're being fleeced.
Remember Solyndra? We do.
Dividend Master (@DividendMaster) ~ We will reach $40 trillion in debt inside 3yrs.
And everything will collapse. When that happens, it'll be very, very ugly. Gird your loins.
Scott McBryde (@Scott_McBryde) ~ I’m shocked to find there is gambling going on in this casino!
And drinking going on in this bar.
Government takes your money and wastes it. Tale as old as time.
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