Don't really trust any news sources to explain a thing like this they'd be incredibly biased about, especially right near the midterms
I could bother to read it I guess but no fucking way I'm doing that I'll just read a star trek novel instead thanks
I wonder if companies will just raise their prices to match the subsidies. Like if you get a 5k tax break on solar panels won't they just raise the price by 5k so that the price for the end-user is the same but they get more profit?
If there is way more demand than supply then yeah then can just increase the prices. But that also means plans to build more solar panel factories and such will probably be accelerated
The EV credit thing is correct. All EV batteries are sourced primarily from China and the new credit requires most of the battery components to come from places that aren't China.
Just like everything they do, half ass. So this probably going to be negative if we take every half ass thing they did before. I think one of the “progressive” said that the bill will do minimal on inflation and it give the oil company more land to drill
Hourly updates on the passage of the IRA...
Our Amendments
11:31pm. Cut Medicare drug prices by 50%: 1-99
1:15AM. Expand Medicare: 3-97
4:01AM. Civilian Climate Corps: 1-98
7:48AM. Extend Child Tax Credit: 1-97
9:38AM. Strike Fossil Fuel Breaks: 1-99
It always seems impossible until it's done. Never give up.
dejected_Bernie_pic.jpeg [Really]
You get a nickel from ole uncle Joe for your savings account! :biden-troll:
They say it's going to reduce emissions by 30% by 2030, so my vibe is it doesn't actually do anything or will actively make the situation worse. I guess it's got some good provisions limiting hte out of pocket costs of senior citizens for some medical stuff.
Ish? It includes some actual investment in a green transition, although not much, and it offsets it by making a bunch of federal land and offshore locations available for drilling. It gives the gov't limited power to negotiate drug prices for its programs. It's pretty much garbage, but includes a tiny set of improvements, I suppose.
it raises money by taxing stock buybacks and having a minimum corporate tax and it spends money on tax credits to get people to buy EV, or appliances that use less energy. As well as tax credits for green energy companies to get them to build that and ACA subsidies
My company had a meeting where they told all the workers how bad it is and how it will force them to stop giving wages and maybe fire people
https://www.scientificamerican.com/article/what-scientists-say-about-the-historic-climate-bill/
This article is helpful
Good overall ig, but not enough for me or anyone else here to really be satisfied
