The former head of the Democratic National Committee and current senior adviser to Joe Biden claims that the Inflation Reduction Act, which is what Biden labeled his Green New Deal to get Joe Manchin to buy in to it, has been burrowed so deeply into the administrative state that, like Obamacare, it will be tough to undo.
Politico writes:
White House senior adviser Tom Perez predicted President Joe Biden’s signature climate law will withstand GOP attempts to roll it back — just as the Affordable Care Act passed under his former boss survived repeal efforts.
“Just like the ACA, this is part of our ecosystem,” said Perez, the director of the White House’s Office of Intergovernmental Affairs, during POLITICO’s Energy Summit. Perez formerly served as Labor secretary under former President Barack Obama.
The Biden administration is racing to get federal spending out the door ahead of the November election. But the potential return of former President Donald Trump — who has repeatedly criticized Biden’s support for clean energy — could mean undoing or undermining parts of the administration’s signature climate legislation, the Inflation Reduction Act, and progress under other laws like the bipartisan infrastructure law.
But Perez painted an optimistic picture Wednesday, telling the crowd that the climate law is “grafting into the ecosystem and the consciousness” as a wave of announced investments into clean energy projects — largely to GOP-led congressional districts — have launched across the U.S.
Earlier in the spring, the Biden Administration admitted that the Inflation Reduction Act had little to do with reducing inflation, which has crippled the savings accounts of ordinary Americans for most of Biden’s term in office.
Treasury Secretary Janet Yellen said that she regretted convincing Democrats that inflation would be “transitory.”
Yellen said, “It has come down. But I think transitory means a few weeks or months to most people.”
One place where inflation has hit the hardest is childcare, noted ABC News. “Families in the U.S. spend an average of $11,000 on child care each year, which amounts to a nearly 250% increase since 1991, the advocacy group Child Care Aware found in 2022.
In recent months, the rise in prices has accelerated. The cost of child care climbed 4.1% over the year ending in April, outpacing the overall inflation rate by more than half a percentage point, U.S. Bureau of Labor Statistics data shows.”
At least there will be solar panels and seven electric vehicle chargers, though.
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