A Russian nesting doll of spite and stupid.
This is straight up insane, which checks a box within-a-box within-a-box for the lobotomized party. So they’ll probably do it.
The tax provision, tucked inside the 940-page bill that the Senate made public just after midnight on Friday, stunned observers.
“This is how you kill an industry,” said Bob Keefe, executive director of E2, a nonpartisan group of business leaders and investors. “And at a time when electricity prices and demand are soaring.”
The bill would rapidly phase out existing federal tax subsidies for wind and solar power by 2027. Doing so, many companies say, could derail hundreds of projects under development and could jeopardize billions of dollars in manufacturing facilities that had been planned around the country with the subsidies in mind.
Those tax credits were at the heart of the Inflation Reduction Act, which Democrats passed in 2022 in an attempt to nudge the country away from fossil fuels, the burning of which is driving climate change. President Trump, who has mocked climate science, has instead promoted fossil fuels and demanded that Republicans in Congress unwind the law.
But the latest version of the Senate bill would go much further. It would impose a steep penalty on all new wind and solar farms that come online after 2027 — even if they didn’t receive federal subsidies — unless they follow complicated and potentially unworkable requirements to disentangle their supply chains from China. Since China dominates global supply chains, that measure could affect a large number of companies.
That’s from NYT on Sunday, and there are literally no benefits from doing this.
Not unrelated to the way ‘policymakers’ are making pawns of Chinese college students studying and doing research in the US. Always running behind will always do the wrong things. Ahead is right there. In front of you.