April 08, 2024
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  • President Biden's Green Agenda: A Nearly Trillion-Dollar Burden on Americans

           President Joe Biden’s environmental policy agenda comes with a price tag that our country simply cannot afford. 

    A daunting analysis conducted by U.S. Senate Environment and Public Works Committee Republicans shows that the cost of just a few of President Biden’s environmental proposals would clock in at more than $845 billion. U.S. consumers and businesses will face severe challenges due to these regulations, and the weight of their price will continue to cripple American taxpayers for decades

    In the face of these devastating regulations, House Republicans question the President’s ability to balance environmental objectives and economic realities. Recently, the Washington Times outlined these costly policies.

    Word on the Street via The Washington Times:

    • “The projected costs to implement only a handful of President Biden’s most sweeping environmental regulations have an eye-popping price tag: more than $845 billion.”

    • “’ Despite clear warnings from American consumers and job creators and loss after loss in the courts, President Biden is moving full steam ahead with his crippling, unrealistic environmental agenda in 2024,’”

    • “The cost to implement six major EPA policies over the coming decades detailed in the report was based on each rule’s respective regulatory impact analysis.”

    • “Those regulations include:

      • $590 billion from 2027-2055 for an EV mandate on passenger cars that requires two-thirds of new vehicles sold by 2032 to be all-electric or hybrid.

      • $210 billion from 2026-2040 for a waiver sought by California to phase out 100% of new gas-powered cars by 2035. The waiver is still under consideration. Last year, the EPA granted California a waiver to begin phasing out diesel-powered trucks in favor of electric alternatives.

      • $24 billion from 2027-2055 for roughly 25% of semi-trucks and other heavy-duty diesel vehicles to be electric by 2032.

      • $14 billion from 2024-2042 to slash nearly all emissions from fossil fuel power plants to achieve a zero-emission electrical grid by 2035. Plants, primarily coal and natural gas-fired, must implement costly carbon capture technology, switch to renewables, or shut down. The rule has not been finalized.

      • $7 billion from 2032-2051 to limit soot pollution levels, which critics say jeopardizes domestic energy and manufacturing.

      • $390 million from 2024-2035 for a proposed emissions rule that fines oil and natural gas companies for leaked methane. Critics say it will raise consumers’ energy costs and divert money from clean energy.”

    The Bottom Line:

    The Biden administration’s unbridling spending and reckless policies will disproportionately force hard-working Americans to foot the bill for these costs.

    The House Budget Committee has been sounding the alarm on President Biden’s myriad of harmful policies. From his EPA tailpipe vehicle emissions rule, which is a de facto ban on the sale of gas-powered and traditional hybrid vehicles, to his corporate welfare for preferred industries, to his FY25 budget request filled with budget busting spending, President Biden is blatantly out of touch with reality. 

    Unless the President realizes the chasm between his dreams and our fiscal reality, we risk falling further into a debt crisis that will not be easy to recover from. We cannot continue down this path.