The new Schumer-Manchin BBB bill is now called the “Inflation Reduction Act,” a misnomer since it raises taxes by $330 BILLION and adding to inflation while we are in a recession.
As soon as Republicans voted for CHIPS, Manchin decided to go for the BBB bill that raises taxes, expands Obamacare, and sets up a slush fund for The Green New Deal.
Manchin double-crossed his Senate GOP colleagues to do Chuck Schumer’s bidding with a reconciliation gimmick. He’s a professional democrat and always gives in. Democrats punish integrity and reward treachery.
We are not hearing how this new bill matches up to the misery we see taking place throughout the Western World.
THE INFLATION BBB BILL IS AGENDA 2030
The Build Back Better bill puts us on the same path as Canada, Ireland, The Netherlands, and other nations being forced to cut farm emissions by 40%.
For example, Prime Minister Justin Trudeau announced a 40% reduction plan. He gets there with huge reductions in oil and gas, heavy industry, electricity, and transportation. This is the same plan Biden’s administration is setting up for us. It’s based on the World Economic Forum and UN goals for Agenda 2030.
The climate package does open up leases for oil and gas, but only as a temporary bridge. The real problem with this bill is it moves to reduce emissions 40% by 2030. With additional actions planned by Democrats, the cut in emissions will be 50 to 52% by 2030.
The BBB-Inflation Reduction Act calls for a 40-50% cut in emissions.
“It’s going to be the largest climate investment in American history by far,” Leah Stokes, an environmental politics professor at the University of California, Santa Barbara, told The Hill.
It includes a long-term extension of clean energy tax credits in line with what we’ve previously modeled, which means it could plausibly put the U.S. on track to reduce emissions by 40 percent in 2030,” Ben King of Rhodium Group said in a statement.
“Additional action by the Biden administration and states can help close the rest of the gap to the target of a 50-52 percent cut in emissions by 2030,” he added.
Rhodium Group’s modeling has shown that without any legislative action, the U.S. would be expected to reduce its emissions by between 24 and 35 percent.
The bill would provide $30 billion in tax credits for manufacturing solar panels, wind turbines, batteries, and critical minerals processing. It includes an additional $10 billion in tax credits for clean energy technology manufacturing facilities that make electric vehicles, wind turbines, and solar panels.
All of this is a big boon for China. They make the parts.
Other provisions include $30 billion in loans and grants to help states and electric utilities transition to clean energy and $27 billion for a green bank that would provide more incentives for clean energy technology.
And while not directly related to climate change, the bill also puts $60 billion towards environmental justice — addressing disproportionately high pollution levels faced by people of color and low-income communities.
That is a complete waste of money. It’s a giveaway for a key voting bloc using a false crisis.
THE TEMPORARY RELIEF
The bill would require the federal government to hold oil and gas lease sales as a condition for selling leases for renewable energy on public lands and waters.
For the government to allow new wind or solar energy development on federal lands, it will be required to hold onshore drilling lease sales.
The legislation would also reinstate the results of a November lease sale for new offshore drilling that sold the rights to drill on 1.7 million acres in the Gulf of Mexico and was later struck down on environmental grounds. It would also require the Interior Department to hold other lease sales in the near future.
The administration plans to end fossil fuels well before alternative energy is ready to replace them. You will have to sacrifice, peasant.