On Wednesday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Mark Green (R-TN) said that the Inflation Reduction Act reconciliation bill not only increases costs for oil and gas, which will lead to an increase in people’s energy bills, but the legislation also serves as a “huge disincentive” for people to move away from fossil fuels because the majority of electric and plug-in hybrids that are currently eligible for tax credits would actually lose them under the legislation.
Green stated, “If you look at actually, how the bill is structured, 70% of the people who currently get a tax credit aren’t going to get a tax credit. So, this whole notion of trying to incentivize people to move from fossil fuels to electric is just — now, it’s a huge disincentive. So, I don’t get it. ”
He added, “I mean, I’m making fun of this IRA, supposed Inflation Reduction Act because it’s a joke. I mean, they’re actually taxing oil. They’re taxing natural gas. People’s gas — natural gas bill for their power to heat and cool — heat their homes and cook their food is going to increase 17%. And they’re talking about decreasing inflation? It’s a joke.”
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