The confirmation hearings between Sen. Ron Wyden (D-Ore.) and Treasury secretary nominee Scott Bessant highlighted the stark contrast between Democratic and Republican energy policies. [emphasis, links added]
Wyden pressed Bessent on Republican efforts to undo parts of Biden's 2022 Inflation Reduction Act (IRA), particularly those involving clean energy.
Since Republicans hold majorities in both houses of Congress, House Speaker Mike Johnson has pledged to target a Green New Deal by speeding up drilling permits, eliminating electric vehicle (EV) mandates and eliminating tax credits for solar panels, electric vehicles, wind turbines and clean energy manufacturing.
Wyden claimed that the United States was “in a clean energy arms race with China” and asked Bessant, “Do you want to side with those who want to solve this mystery?”
Bessent responded. China will build 100 new coal-fired power plants this year. “This is not a clean energy race. This is an energy race.”
🚨Watch President Trump’s Treasury Secretary nominee Scott Bessant’s mic drop moment as he destroys the Democrats’ war on fossil fuels:
Wyden: “We're in a clean energy arms race with China. Will you side with the people who want to solve this mystery? pic.twitter.com/1y7rloUwRp
— Steve Cortes (@CortesSteve) January 16, 2025
Bessant also pointed out China will build 10 nuclear power plants this year and Affirmed his support for greater use of nuclear energy in the United States
The Treasury secretary nominee also noted that, based on ratings from the Congressional Budget Office (CBO), the IRA is “In terms of upside, spending is seriously out of control.”
Not all Republicans are staunchly supportive of eliminating the tax credit for clean energy manufacturing, as they worry about the economic impact on industry in the region, which has traditionally been a source of clean energy manufacturing. Beneficiaries of billions of dollars in taxpayer-funded “investments” under the IRA.
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