President Biden and progressives’ efforts to convince Americans that the new climate change economy would be a benefit have predictably fallen flat. Hundreds of billions in Green New Deal spending isn’t strengthening the power grid or creating millions of jobs. It certainly hasn’t changed the temperature of the planet.
Importantly, all that progress happened before the Biden administration made impending eco-doom a constant refrain. Like much of the tax code, the rules are arcane. Mr. Biden’s so-called Inflation Reduction Act provided for an energy-efficient home improvement tax credit that amounted to a mere $1,200 annually and $2,000 for heat pumps and boilers. If you want to install exterior windows that meet Energy Star’s Most Efficient certification requirements, the credit is limited to a paltry $600. The government’s generosity basically helps cover the cost of one window.
Electric vehicle production has a massive carbon footprint, contributes to deforestation and human rights abuses, and puts big bucks into the pockets of China. Mr.