(ProsperNews.net) – The Biden administration is providing $400 million to help states take up new energy codes for buildings. State governments may apply for funding to make new construction projects more energy efficient. The sum is the first part of an overall $1 billion budget dedicated to such projects. It is part of the government’s Inflation Reduction Act, which Biden admits does little to lower inflation but is essentially a climate change package under a different name.
At a September 18 press conference, Energy Secretary Jennifer Granholm told reporters, “This funding will ensure that states and local communities have the tools necessary to lead the way in increasing the performance and the overall health of buildings.” She said it was part of the President’s “Investing in America” agenda.
Republicans are furious about the amount of cash poured into climate change projects and have tried overturning the Inflation Reduction Act. GOP Presidential contenders promise to limit its scope or scrap it, including President Trump. At a rally in New Hampshire, Trump said the Inflation Reduction Act (IRA) actually increased inflation, and it was “crazy” to “pour money” into climate initiatives as Biden is doing.
Nikki Haley went even further and called the IRA a “communist manifesto.” She said it is filled with tax hikes and green subsidies, and the overall effect is a boost for China and a bloody nose for America. “I will repeal Biden’s green energy handouts and make sure Americans are not dependent on China for vital goods,” she said.
The IRA is the largest ever US investment in climate change projects, but it also creates a new 15% minimum tax rate for corporations with income exceeding $1 billion, places a $2,000 cap on prescription drug prices for Medicare recipients, extends Obamacare subsidies into 2025, and invests $80 billion in the IRS over the next ten years. Republicans negotiated some of these figures down during debt ceiling negotiations in May, slashing over $20 billion from the IRS allocation.
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