Manchin’s Insights on Inflation Reduction Act
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Manchin’s Insights on Inflation Reduction Act
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Sen. Joe Manchin sees the Inflation Reduction Act as a bipartisan win, and he’s addressing what he views as misinformation and biased spin on both sides of the aisle. Intercessor, what do you think of this?
From The Wall Street Journal. Since President Biden signed the Inflation Reduction Act into law, Washington hypocrisy has been on display, with both sides politicizing the bill to gain a partisan advantage. On the far left, the administration has touted the bill as a transformational piece of green-energy legislation. On the far right, despite taking credit for fossil-fuel investments in their states, Republicans have assailed the act as the Green New Deal. That’s what people hate about Washington: Both parties mislead constituents to fit narratives. Our parties are tearing each other down instead of working together to build up America.
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Let me be clear: The Inflation Reduction Act isn’t a red bill or a blue bill, and it sure isn’t a green bill. It’s an American bill. It accounts for the reality that our economy and everyday Americans will rely on fossil fuels for the foreseeable future while also diversifying energy sources. The law invests in cleaner production and use of fossil fuels while also advancing energy technologies of the future. It bolsters energy security while reducing emissions, tasks that can be accomplished simultaneously if done thoughtfully. …
Despite this administration’s best efforts to botch the law’s implementation, fossil-fuel projects are getting off the ground because of the act. The law enhanced the 45Q tax credit for carbon capture, utilization and storage — worth about $3 billion — to spur investment in power plants and industrial facilities fueled by coal and natural gas. …
As part of the Inflation Reduction Act negotiation process, Mr. Biden agreed to guarantee the Mountain Valley Pipeline’s completion. The pipeline will create 4,000 construction jobs and generate $50 million in tax revenue and more than $175 million in royalties for West Virginia landowners. …
The Inflation Reduction Act also mandated three important federal oil and gas offshore lease sales after the Biden administration arbitrarily canceled them. …
Because of the Inflation Reduction Act, we are producing fossil fuels at record levels. Annual natural-gas production hit nearly 36 trillion cubic feet last year and is expected to exceed 37 trillion in 2023. We are on track to produce more than 4.6 billion barrels of oil in 2023, the highest annual production ever. …
Even my Republican colleagues acknowledged in a court brief that the act “balances diverse, complex, and overlapping considerations including growth and conservation, domestic needs and global positioning, and security and diplomacy.” …
In light of Manchin’s words, how do you feel about the Inflation Reduction Act?
(Excerpt from The Epoch Times. Photo Credit: Anna Moneymaker/Getty Images)
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Comments
1. Manchin only cares about what West Virginians think when he is up for reelection. He is up for reelection in 2024.
2. In the last 25 years West Virginia has changed from being a blue state to being a very red state. Manchin is the only democrat left that can win a statewide election. Only between 10 and 11% of the state legislature is democratic.
3. I hope that West Virginians are no longer deceived about Manchin. Manchin is still a real Democrat not an independent or a moderate. He voted for Schumer as well as the other democratic leadership. He votes with Schumer and Biden and other members of his party until a few months before his reelection. As a democrat, he stands with his party’s platform and its values.