That’s totally believable, right?
Inflation Reduction Act would lead to $1,800 in savings for average household, analysis finds
Sweeping climate and health care legislation unveiled by Democrats last week would lead to significant cuts in energy costs for American households, according to a new analysis.
A report by non-profit group Rewiring America found that the tax incentives included as part of the $369 billion dedicated to climate initiatives in the Inflation Reduction Act would save the average household $1,800 per year on energy bills.
“It is a market-tilting level of investment,” Ari Matusiak, the group’s co-founder and CEO who was involved with the crafting of the bill, told Yahoo Finance. “The beneficiaries of [this measure] in the long term are going to be all of us on the planet. In the short term, it’s going to be Americans at their kitchen tables realizing savings on a month-to-month basis.”
The new measure sets out to accelerate the transition to renewable energy and dramatically reduce the country’s greenhouse gas emissions through a slew of tax incentives aimed at reducing the cost of electrification.
I’m sure the very far left group totally can explain how you’ll save $1,800 a year, right? Seriously, where is that possible? A lot of families I know spend around $200-$300 a month. Kinda tough to save $1,800.
While those cost savings are dolled out among more than 100 different programs, Matusiak said the biggest reductions are likely to come from rebate and credit programs that cushion the cost difference between electric appliances and cars, and those that rely on fossil fuels.
So, somehow you’ll save money by being forced to replace your gas appliances and car with an EV? And by rebate, they mean tax credit, which doesn’t always amount to saving that amount of actual money.
“41% of the inflation that consumers are experiencing are because their energy bills directly are going up at the pump and at their kitchen table,” he said. “And electrifying the machines that we use in our day-to-day lives structures that inflation out of our lives forever. So it is not just about whether you’re going to get to that $1,800 number this year, but it’s whether you are going to reduce the amount of money that you spend on energy year over year for the next 20 years.”
Ah, so, you might not save $1,800 this year, you might save something over the next 20 years? Cool. What if we already have an electric stove? How does that help? What if we can’t afford to spend $50K plus for an EV? And then the charger for the house?
Matusiak also pointed to additional credits that allow homeowners to deduct up to 30% of the cost of energy efficient upgrades to their homes, as all part of the $1,800 cost savings estimated.
Oh, so spend a lot to save some? Does this sound like a complete scam or what.
Read: Hard Left Group Says “Inflation Bill” Will Save Average Family $1,800 A Year Or Something »