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 tis 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.
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?
Sure it does.
Probably.
That'll be the headlines. Not the lies about the 'Inflation Reduction Act' or how disastrous it is, but how Republicans react to it.
Government makes everything worse.
Totally weird.
Big whoopsies.
'Unexpectedly.'
No. That was never the goal.
In the history of forever.
This is fine. Totally fine.
Of course they will.
So tired.
And everything will collapse. When that happens, it'll be very, very ugly. Gird your loins.
And drinking going on in this bar.
Government takes your money and wastes it. Tale as old as time.
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