The new Dem talking point: All you need to do is buy new energy-saving appliances, retrofit your home, and buy an EV. See, we're reducing inflation...
The Hill (8/12/22) column: "Since the Inflation Reduction Act passed the Senate, Democrats have been calling the bill a gamechanger for climate adaptation and emissions reductions. And they are right. The bill will transform entire sectors to be more energy efficient and rely less on fossil fuels than ever before. But perhaps the most exciting provisions of the IRA, the subsidies for low-income households and disadvantaged communities, have gotten very little coverage. Up to now, federal incentives to help families switch from gasoline to electric vehicles and retrofit their homes were accessible primarily to upper income families. This is because the incentives usually came in the form of tax breaks, which many low-income households cannot benefit from because they do not make enough money to owe income tax, or as credits that only covered a portion of the costs of the measure. The Inflation Reduction Act of 2022 provides funding for more than 100 programs to help the nation meet its climate goals and transition to a clean energy economy. An important subset of these programs provides $60 billion in grants, tax credits and other subsidies to meet the administration’s environmental justice goals. These programs will help lower-income families transition to a clean energy economy and adapt to rising temperatures by increasing the energy efficiency of their homes, cars, and communities."
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"Like the old joke about the Holy Roman Empire (it was neither holy nor Roman nor an empire), the Inflation Reduction Act will likely exacerbate inflation while not doing anything useful in the realm of emissions reduction, either."
– Michael Puttré,
Discourse Magazine
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