USA (VINnews)-Joe Biden openly acknowledged that the Inflation Reduction Act (IRA), passed in August 2022, was not primarily about tackling inflation, but rather aimed at funding climate change initiatives. The admission came after the president veered off script, reflecting on the true nature of the legislation.
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Speaking without the aid of a teleprompter, Biden stated, “Through my investments, [it’s] the most significant climate change law ever. And by the way, it is a $369 billion bill.” He continued by admitting, “It’s called the [Inflation Reduction Act]. We should have named it what it was.”
This moment is likely to spark political controversy, given that the act was widely promoted as a solution to rising inflation, which has been a significant concern for American households. The Inflation Reduction Act was initially pitched as a multifaceted legislative effort that would reduce inflation, lower prescription drug costs, invest in domestic energy production, and tackle climate change.
However, Biden’s remarks suggest that the bill’s primary focus has always been climate-related spending, which aligns with the $369 billion earmarked for clean energy investments, green jobs, and reducing carbon emissions. This funding is the largest federal investment in climate change initiatives in U.S. history, supporting renewable energy projects, tax credits for electric vehicles, and other environmental initiatives.
Republicans, who have long criticized the bill’s name and questioned its ability to reduce inflation, may seize on Biden’s admission as validation of their claims that the act was misrepresented to the public. While Democrats have praised the legislation as a significant step toward addressing climate change, this recent revelation could open the door to new debates on the priorities and transparency of the Biden administration’s policy agenda.
So, basically, the Dems took away our last dollar and gave it to Gretas of the world.
It’s good he’s getting oysvevepd, because we find out the truth.
The Democrats idea about their hypocrisy called climate change is to throw money at it. It’s really a way for the government to get money.
How do you tell if a Dem is lying? Their lips are moving.