{"id":1619532,"date":"2022-08-22T22:03:14","date_gmt":"2022-08-23T02:03:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1619532"},"modified":"2022-08-22T22:03:29","modified_gmt":"2022-08-23T02:03:29","slug":"inflation-reduction-act-a-win-for-renewable-energy-wont-help-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-reduction-act-a-win-for-renewable-energy-wont-help-inflation\/","title":{"rendered":"\u2018Inflation Reduction Act\u2019 a Win for Renewable Energy, Won\u2019t Help Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finflation-reduction-act-a-win-for-renewable-energy-wont-help-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1619532&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In his prepared remarks, President Joe Biden called the 2022 Inflation Reduction Act (IRA) one of the most \u201csignificant laws in our history\u201d and hyped it as a win for reducing <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> and tackling the \u201cclimate crisis.\u201d<\/p>\n<p>Likewise, Senate Democrats claim the IRA will \u201chelp fight inflation\u201d while simultaneously lowering the cost of energy for Americans and \u201csubstantially\u201d reducing greenhouse gas emissions.<\/p>\n<p> <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/GettyImages-1242348854-1200x800-1.jpg\"><\/a> Sen. Joe Manchin (D-W. Va.) departs the Senate floor following a vote on Capitol Hill in Washington on Aug. 6, 2022. (Anna Rose Layden\/Getty Images) <\/p>\n<p>The IRA is indeed a significant win for renewable energy\u2014it includes $369 billion in incentives for renewable energy, <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/08\/16\/remarks-by-president-biden-at-signing-of-h-r-5376-the-inflation-reduction-act-of-2022\/\">allowing<\/a> the \u201cmost aggressive action ever\u201d to meet Biden\u2019s climate goals.<\/p>\n<p>However, non-partisan third-party <a href=\"https:\/\/www.cbo.gov\/system\/files\/2022-08\/58357-Graham.pdf\">analysts<\/a> state that the bill\u2019s impact on inflation is \u201cnegligible.\u201d<\/p>\n<p>Under certain scenarios, the IRA could make inflation worse, experts add.<\/p>\n<p> Inflation Reduction? <\/p>\n<p>On Aug. 16, Biden signed the 2022 IRA into law and <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/08\/16\/remarks-by-president-biden-at-signing-of-h-r-5376-the-inflation-reduction-act-of-2022\/\">touted<\/a> it as the \u201cbiggest step forward on climate ever.\u201d<\/p>\n<p>\u201c[The IRAs] going to allow us to boldly take additional steps toward meeting all of my climate goals,\u201d Biden further stated at the signing.<\/p>\n<p>Indeed, the IRA includes several significant tax credits, manufacturing incentives, and grants that Senate Democrats <a href=\"https:\/\/www.democrats.senate.gov\/imo\/media\/doc\/summary_of_the_energy_security_and_climate_change_investments_in_the_inflation_reduction_act_of_2022.pdf\">claim<\/a> will lower energy costs for Americans.<\/p>\n<p>They also claim the IRA will increase U.S. energy security by encouraging domestic production, help decarbonize the economy, support disadvantaged communities\u2019 transition to cleaner economies, and support rural communities.<\/p>\n<p> <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/AdobeStock_125016564-CROPPED-1200x675-1.jpg\"><\/a> An array of solar panels and wind turbines. (Soonthorn\/Adobe Stock) <\/p>\n<p>Specifically, some of the tax credits in the IRA include a $9 billion energy rebate program, which would allow Americans to purchase or retrofit their homes with energy-efficient appliances. Plus, there are ten years of consumer tax credits for Americans to outfit their homes with rooftop solar, and energy-efficient heating and<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In his prepared remarks, President Joe Biden called the 2022 Inflation Reduction Act (IRA) one of the most \u201csignificant laws in our history\u201d and hyped it as a win for reducing inflation and tackling the \u201cclimate crisis.\u201d Likewise, Senate Democrats claim the IRA will \u201chelp fight inflation\u201d while simultaneously lowering the cost of energy for [\u2026]<\/p>\n","protected":false},"author":1203,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1619532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1619532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1203"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1619532"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1619532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1619532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1619532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1619532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}