by Steve Milloy, E&E Legal Senior Policy Fellow and Junkscience.com Founder
As appearing in the Daily Caller
As of this writing, it’s impossible to know exactly how much Green New Scam spending has been cut by the One Big Beautiful Bill Act. Even members of Congress have no idea. But I’m not worried. President Trump can terminate all Green New Spending any day he chooses.
Goldman Sachs estimated that the climate spending portion of the 2022 Inflation Reduction Act (i.e., the Green New Scam) was worth about $1.2 trillion by 2032. The total may actually have been greater as it’s extraordinarily difficult to kill off federal subsidies.
By the time President Trump was inaugurated, the Biden administration had spentsomewhere around $150 billion of the money, including much in red states buying Republican politicians so that they would be reluctant to roll back the spending during opportunities for fiscal responsibility like the OBBBA.
The House version of the OBBBA may have cut as much as 50 percent of the remaining Green New Scam spending. The Senate version that passed on July 1 “gutted” what the House did, according to Rep. Chip Roy (R-Texas). So where are we? Who knows. The good news is it really doesn’t matter.
