Just when you thought your wallet was safe with Trump’s victory, the Environmental Protection Agency (EPA) dropped a bombshell Tuesday that’ll hit every American family right where it hurts – their energy bills.
From Fox News: President Biden’s Environmental Protection Agency (EPA) finalized a new rule Tuesday, taxing methane emissions from the oil and gas sector.
The new tax was born out of Biden’s sweeping climate legislation passed by Congress, known as the Inflation Reduction Act, which included a Waste Emissions Charge provision. Although the waste emissions charge was mandated by Congress, the Biden administration had discretion on how tightly to clamp down.
The fee will start at $900 per metric ton of methane emitted over a specific performance level during 2024. In subsequent years, the fee will increase. In 2025, it will grow to $1,200 per metric ton. In 2026, it will increase to $1,500 per ton. Meanwhile, each subsequent year after that, the fee will continue to rise, according to the EPA.
The Real Cost to American Families Let me break this down for you in simple terms – because unlike the smooth-talking bureaucrats in Washington, I believe in straight talk. This tax isn’t just some number on a piece of paper. It’s going to hit your family’s budget like a freight train.
When energy companies get hit with these massive new taxes, guess who ends up paying? That’s right – you and me. Our heating bills, gas prices, and electricity costs are all going to go up. And for what? So Biden can claim some kind of climate victory on his way out the door?
The Last Gasp of the Green New Deal This whole thing stems from Biden’s misleadingly named “Inflation Reduction Act” – and we all know how well that worked out for inflation, don’t we? It’s just another example of the Democrats trying to force their green agenda down our throats before the American people can stop them.
Thank goodness we’ve got President-elect Trump waiting in the wings. He’s already promised to roll back these kinds of job-killing regulations on day one. But folks, these next two months are going to be rough as Biden tries to cement his legacy of destruction.