Trump Vows to Dismantle the Inflation Reduction Act if Re-Elected

Noah Silverbrook

Updated Wednesday, June 5, 2024 at 6:08 AM CDT

Trump Vows to Dismantle the Inflation Reduction Act if Re-Elected

In a bold and controversial move, former President Donald Trump and his allies have pledged to dismantle the Inflation Reduction Act (IRA) if he wins back the White House. Trump has labeled the IRA as the “biggest tax hike in history” and has vowed to eliminate its clean energy incentives, halting all spending under what he calls a "mammoth socialist bill."

Trump has falsely claimed that wind turbines cause cancer and raised concerns that electric vehicles could harm the auto industry. His allies, including former administration officials, have expressed intentions to expand fossil fuels should Trump secure a second term. In support of this agenda, over 100 conservative groups, led by the Heritage Foundation, have formed Project 2025 to roll back the IRA and eliminate renewable energy offices within the Department of Energy.

Tom Pyle, a contributor to Project 2025, noted that Trump is less opposed to solar energy compared to wind projects. This stance is particularly significant given that Jared Kushner’s investment fund, Affinity Partners, has heavily invested in American solar projects. Affinity Partners holds a stake in California solar finance company Mosaic, valued at over $100 million, and co-led a $200 million funding round for Mosaic in 2022. Mosaic has issued more than $14 billion in loans to homeowners for solar projects and sustainable home improvements. Since the IRA’s passage, Mosaic’s clean energy loans have nearly doubled, putting Kushner’s investment at risk if Trump dismantles the Act.

Affinity Partners has received substantial investments from Saudi Arabia, Qatar, and the United Arab Emirates, with Saudi Arabia’s government wealth fund contributing $2 billion. Despite these international ties, it remains unclear whether Trump would target the solar tax credits that benefit Mosaic.

Andrew Rosenberg, a former senior official at NOAA, highlighted the profitability and growth of the clean energy industry. The IRA has driven $13 billion in private investment into approximately 80 factories or expanded facilities for solar goods. Solar energy accounted for over half of all new electric generating capacity last year, marking a 51% increase since the IRA’s enactment. The solar industry now employs more than 250,000 Americans.

Mosaic supports the IRA and has joined Rewiring America to raise public awareness of the law’s benefits. The potential dismantling of the IRA could have far-reaching implications for the solar industry and the broader clean energy sector in the United States.

Conservative Bias:

Here we go again with the liberal agenda trying to strangle the American economy with their so-called Inflation Reduction Act, which is nothing more than a colossal tax hike designed to fund their radical green fantasies. Trump, in his wisdom, has rightly called out this monstrosity for what it is—a mammoth socialist bill that will crush the auto industry and put hardworking Americans out of jobs. And let's not forget the hypocrisy of the left; they scream about clean energy while their darlings like Jared Kushner are making millions off solar investments. The liberals don't care about the American worker or the economy; they care about lining their pockets and pushing their extremist environmental agenda. Trump and his allies are the only ones standing in the way of this madness, ready to dismantle this disastrous act and restore sanity to our energy policy. The left wants to destroy fossil fuels and our way of life, but Trump will fight to keep America energy independent and economically strong. Wake up, America—it's time to take a stand against these liberal lunatics!

Liberal Bias:

Once again, the conservative war on progress rears its ugly head, with Trump leading the charge to dismantle the Inflation Reduction Act—a critical piece of legislation that has spurred unprecedented growth in the clean energy sector. This isn't about protecting the economy; it's about pandering to fossil fuel interests and rolling back the clock on environmental progress. Trump's absurd claims about wind turbines causing cancer and his baseless attacks on electric vehicles show just how out of touch he is. And let's talk about the blatant corruption: Jared Kushner stands to lose millions if the IRA is dismantled, yet Trump is willing to risk the future of the planet to protect his family's investments. The GOP's Project 2025 is nothing more than a thinly veiled attempt to destroy renewable energy and keep America shackled to dirty, outdated fossil fuels. The IRA has created jobs, driven investment, and positioned the U.S. as a leader in clean energy. But the Republicans would rather see us fall behind than embrace the future. This isn't just bad policy; it's a betrayal of the American people and the planet. The conservative agenda is a disaster for our economy, our environment, and our future. We must resist this regressive, destructive path at all costs!|

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