Joe Biden Targets Republicans for Blocking Inflation Reduction Act
Joe Biden Targets Republicans for Blocking Inflation Reduction Act
Washington DC
US President Joe Biden on Monday targeted Republicans for reportedly trying to block and repeal the Inflation Reduction Act.
Joe Biden said on Twitter, “The Republican Study Committee, which includes over 3-quarters of the House Republicans, just released a plan trying to repeal the Inflation Reduction Act again.”
Biden stated that it ‘hasn’t stopped them from claiming credit, now that billions of dollars and thousands of jobs are coming to the United States’.
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It is worth noting that Inflation Reduction Act provides for organisations to access tax credits for green initiatives and production activities.
These tax credits can be availed by both, private and public sector units including government entities.
US Energy Secretary Jennifer Granholm also supported Biden’s push for Inflation Reduction Act and tweeted, “The proof is in the cleaner air.”
“Under @POTUS, EV sales have tripled as Americans are leveraging consumer savings that reduce carbon emissions. This is what Investing in America looks like,” Granholm added.
Granholm also tweeted a study by Rhodium Group that claimed CO2 emissions reductions are not only in the US but also outside, for which credit goes to the Act for incentives on green energy solutions.
The Inflation Reduction Act was introduced by the Biden administration in 2021 and it aims to reduce greenhouse gas emissions as per the Paris Agreement.
The Biden administration is trying to achieve the target of a 50-52% reduction in carbon emissions to bring it to below pre-2005 levels.
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