AEA to Congress: Just Say No to President Biden’s Reckless Budget Proposal

WASHINGTON DC (03/09/2023) – Today, President Biden released his federal budget proposal, seeking billions in additional spending for green corporate interests on a host of programs across the federal government.

AEA President Thomas Pyle issued the following statement:

This budget proposal signals that President Biden has looked at the inflation and energy price increases of the last two years and decided that he wants more of both. Since President Biden took office, gasoline prices are up 44 percent and the average retail price of electricity is up over 20 percent.

As President Biden’s destructive policies continue to mount, it’s obvious that there is no plan to correct course. Instead, President Biden tells us that if we want relief from his inflationary policies we should buy electric vehicles, which average over $58,000, or install an expensive heat pump. For a man who fashions himself as a champion of the working class, President Biden doesn’t appear to be sensitive to the needs of American energy consumers.

Fortunately, real relief could be had if President Biden were to end his war on domestic energy producers and abandon his green industrial policies. America is the best in the world at delivering reliable, affordable, and clean energy to consumers. Washington needs to get out of the energy business. This budget does the opposite. Congress should reject it.

President Biden’s budget proposal includes:

  • $16.5 billion in climate science funding and “clean energy innovation”
    • This includes $3.5 billion of the $8.8 billion total for DOE’s Office of Science and $1.6 billion at NSF
    • $1 billion for fusion energy
  • $4.5 billion in additional “clean energy” spending
  • Pledges to more than quadruple international climate finance and provide more than $3 billion for the President’s “Emergency Plan for Adaptation and Resilience”
    • This includes a $1.6 billion contribution to the Green Climate Fund and a $1.2 billion loan to the Clean Technology Fund
  • $1.8 billion for the EPA to advance “environmental justice”
  • $1.2 billion for the Department of Energy’s industrial decarbonization activities
  • $64.4 million at EPA to implement the American Innovation and Manufacturing Act, a corporate giveaway program

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