Biden Signs “Inflation Law” Packed with Billions in Green Giveaways

Biden Signs “Inflation Law” Packed with Billions in Green Giveaways

August 17, 2022

Tuesday evening, President Biden temporarily satisfied his eco-left supporters and signed a $740 billion “inflation reduction” bill. The bill’s name is deceitful as it greatly benefits green energy and will do little, if anything, to help with sky-high inflation. 

The Washington Times reports:

“The nonpartisan Congressional Budget Office said the law will have a negligible impact on inflation this year. Economists at JPMorgan Chase & Co. said it will have ‘almost no effect’ on inflation or economic output for the next one to two years.”

Instead of helping American families struggling with rising grocery prices, rent and gas prices. The President’s crown jewel of legislation includes:

  • A $7,500 tax break for the rich who can afford electric vehicles; 
  • $27 billion for “green banks” in a massive giveaway to allies of Biden’s failed energy agenda;
  • $3 billion for the Postal Service to buy new electric vehicles; and
  • $60 billion for “environmental justice” programs.

Daniel Turner, Founder and Executive Director of Power The Future discuss this massive bill.

“The President rushed this green giveaway through Congress because he made big promises to the eco-left that he must deliver on to keep his base on board. The next Congress needs to hold the Biden Administration accountable for every dollar of this disaster.”