The legislation that would make the 2017 tax cuts permanent also could spell the end of the so-called “Green New Deal,” Secretary of Energy Chris Wright told Fox Business host Stuart Varney Friday.
The House of Representatives passed a budget reconciliation bill by a 215-214-1 vote early Thursday morning, which not only enacts President Donald Trump’s promises to end taxes on tips and overtime pay, but also makes the rate from Trump’s 2017 tax cut permanent. Varney asked if it would also end spending to combat climate change put in place during the Biden administration.
“Does the big beautiful bill effectively kill the Green New Deal for good?” Varney asked Wright.
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“It does. Look, the wind subsidies are over 30 years old. The solar subsidies are over 20 years old. That’s enough,” Wright responded. “It’s a ton of government money that’s gone out the door and what have we gone from it? More expensive electricity prices. So I think that it’s time to come to an end and yes indeed the big beautiful bill will put an end to these subsidies. Not to those technologies. If they can compete in the marketplace, great, but the massive government subsidies for them will indeed come to an end. Promises made, promises kept.”
Democratic Rep. Alexandria Ocasio-Cortez of New York introduced the Green New Deal shortly after winning her first term to the House of Representatives in the 2018 elections following her defeat of then-Rep. Joe Crowley in the Democratic primary. The program reportedly seeks to combat climate change and to “promote justice and equity” among “frontline and vulnerable communities.”
Economic and energy experts criticized then-President Joe Biden’s hostility to fossil fuel production, which some claim caused higher energy prices. The Biden administration revoked the permit for the Keystone XL pipeline in January 2021 and cancelled an offshore lease sale in May 2022 after issuing new regulations for onshore drilling for oil and natural gas.
The Biden administration also proposed new regulations targeting stoves and other appliances using natural gas, citing a study that claimed that gas stoves accounted for 12.7% of asthma cases among children.
Trump has sought to revoke the Biden administration regulations since taking office on Jan. 20.
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