When inflation is (considered) a problem, the labour market tight, and the deficit too high, counting the total mobilized investments in isolation as ‘net benefits’ is largely meaningless…
Btw. In favor of the IRA. But in current economy, we should evaluate financial and environmental returns, not claim (subsidized) investment itself has a positive return equal to the amount invested.
Yeah but instead the GOP is going to opt for $5 trillion in tax cuts to millionaires and billionaires and “pay for it” by cancelling actually wise investments like this.
Most of the funding is in the form of tax credits, which will probably be tinkerer with when they redo the TCJA, many provisions of which expire in 2025. The consumer EV credit specifically has been claimed for the chopping block. Many credits may survive.
And this is from the version of the IRA that Manchin shat all over. Imagine what we could do with a Congress that wasn't full of obstructionist Republicans and DINOs.
And the Democrats won’t get a single iota of credit, not only that but the GOP will claim that it was their good governance that caused all the benefits.
Comments
2. Trump will take credit for doing nothing and take all the credit for the success.
I'm afraid they will do everything possible to blunt it.