President Joe Biden drives a Cadillac Lyriq through the showroom during a tour at the Detroit Auto Show, Sept. 14, 2022, in Detroit. The projected costs to implement only a handful of President Biden’s most sweeping environmental regulations have an eye-popping price tag: more than $845 billion.
“Despite clear warnings from American consumers and job creators, and loss after loss in the courts, President Biden is moving full steam ahead with his crippling, unrealistic environmental agenda in 2024,” said Sen. Shelley Moore Capito of West Virginia, the committee’s top Republican. “Americans do not want and cannot afford what this administration intends to accomplish through executive overreach and deference to climate activists.
• $24 billion from 2027-2055 for roughly 25% of semi-trucks and other heavy-duty diesel vehicles to be electric by 2032. • $390 million from 2024-2035 for a proposed emissions rule that fines oil and natural gas companies for leaked methane. Critics say it will raise consumers’ energy costs and divert money from clean energy.Administration officials previously countered critics of the climate change regulations by arguing the rules will save lives and improve Americans’ health by drastically reducing global warming emissions.