WRITTEN BY JOHN HUGH DEMASTRI ON APR 20, 2023. POSTED IN LATEST NEWS
GOP Debt Ceiling Bill Guts Biden’s Signature Climate Law, Saves Taxpayers Billions
House Speaker Kevin McCarthy unveiled a Republican budget proposal Wednesday that would end the hundreds of billions of dollars worth of green tax cuts in President Joe Biden’s signature climate law, the Inflation Reduction Act (IRA).
The proposed legislation would defund the IRS programs responsible for implementing the tax credits in the (IRA), which analysts at Goldman Sachs recently estimated could cost as much as $1.2 trillion, more than three times the Congressional Budget Office’s original estimate of $370 billion. [emphasis, links added]
The Republican spending plan — also known as the Limit, Save, Grow Act of 2023 — would also block student loan forgiveness, take steps to claw back COVID-19 benefits from fraudsters, and impose more stringent work requirements for beneficiaries of anti-poverty welfare programs while raising the debt ceiling by $1.5 trillion.
https://climatechangedispatch.com/gop-debt-ceiling-bill-guts-bidens-signature-climate-law-saves-taxpayers-billions/
