. Green tax credits in Biden’s signature Inflation Reduction Act could cost US $1.2 trillion « JO LEE MAGAZINE

NYPOST – Producers are apparently cashing in on the sweeping climate and energy bill, which includes generous subsidies for manufacturing electric vehicles, batteries, and wind and solar energy initiatives. In September of last year, one month after the law passed Congress, the nonpartisan Congressional Budget Office estimated the various energy subsidies coupled with new taxes on corporations and high earners would yield $738 billion in total revenue — while its climate and energy provisions would cost “just” $391 billion out of $437 billion in new spending. But recent analyses have pegged the cost of investing in renewable energy as far higher.

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