Conservatives must remain committed to dismantling the IRA’s “green” subsidies

The Inflation Reduction Act is partisan legislation packed with what could amount to more than one trillion dollars in “green” subsidies meant to centrally plan how Americans produce and use energy.

Not a single House or Senate Republican voted for the IRA. And to their credit, House Republicans have passed important legislation this Congress, such as the Limit, Save, Grow Act (H.R. 2811), which attempts to repeal many of the IRA’s “green” subsidies.

Unfortunately, these legislative efforts have not sought to repeal all of the subsidies. And recently, a small number of Republicans revealed they may be backing off going after these subsidies, at least to some extent.

The wobble comes at a time when conservatives may well find themselves in a political position to dismantle the IRA subsidies altogether. It is critical, therefore, that Republicans do not waver because these subsidies are extremely damaging.

The cost of the subsidies is jaw-dropping. The Congressional Budget Office originally projected the total cost to be $391 billion. Goldman Sachs has a newer price tag of $1.2 trillion. Given the uncapped nature of many of the subsidies, these estimations could be low.

The costs are not even the biggest concern. More troubling is how the money is being spent. The IRA seeks to make radical changes, such as shifting the country from reliable electricity sources (e.g., natural gas and coal) to unreliable electricity sources (e.g., wind and solar).

When Americans flip on the switch, they rightfully expect the lights to come on. They should expect this in a developed country such as the United States. But if some policymakers continue to undermine the grid, which is what it is doing through the IRA, people may find themselves in the dark.

Read the full article at the Washington Examiner.