Connect with us

Hi, what are you looking for?

Daily Planning Capabilities – Investing and Stock NewsDaily Planning Capabilities – Investing and Stock News

Latest News

Energy and Commerce GOP meets on reconciliation plans

House Energy and Commerce Republicans met Thursday to shape their strategy for energy portions of the GOP’s budget reconciliation bill — including clawing back climate spending approved by Democrats.

Panel leaders previewed a “menu” of programs in the Inflation Reduction Act and other Biden administration climate spending that could be rescinded, lawmakers familiar with the discussion said.

Still, members said they were far away from reaching any definitive conclusions on what specific programs they will end up targeting.

“We’re just throwing mud against the wall to see what sticks,” said Rep. Buddy Carter (R-Ga.). “We’re putting a menu list of things that are available, and then saying, what we can do, and how will it impact our districts.”

The budget reconciliation process will allow Republicans to address spending-related issues by simple majority, and will involve a variety of major issues such as border security, tax cuts and energy production. Energy and Commerce lawmakers met earlier this week on health proposals.

Chair Brett Guthrie (R-Ky.) said the lawmakers on Thursday discussed rescinding or drawing down IRA funds at both the Department of Energy and EPA, including targeting money already in the process of being doled out.

“We’re figuring out how much money is going to be recoverable for the Inflation Reduction Act that was sent out,” Guthrie said. “You look at climate justice grants and all those others, but we’re going to investigate and see where that money went.”

Guthrie has said Republicans are particularly interested in examining the Greenhouse Gas Reduction Fund, a $27 billion investment created by the Inflation Reduction Act.

EPA announced this week the agency has obligated 88 percent of clean energy program money passed by Democrats that is currently available. How Republicans can take that money back remains unclear.

They’re also working on a very tight timeline. House Speaker Mike Johnson is planning for the House to coalesce around a strategy and write a budget resolution by Feb. 10, setting up floor debate and adoption that week. The resolution is part of the multi-step budget reconciliation process.

“We’re still just talking about what the options are and making sure everybody understands the details of what our options are,” said Rep. Richard Hudson (R-N.C.). “We’re looking at a menu, and there’s a dollar amount attached to each option.”

Beyond the Energy and Commerce portfolio, Republicans have discussed repealing green energy tax incentives and approving mining and oil and gas drilling projects.

Reporters Kelsey Brugger and Timothy Cama contributed.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    Introduction To The Long Put Strategy Options are used by investors to take advantage of a wide range of projections on the state of the...

    Investing

    Introduction Options can provide investors with an extremely versatile tool that can be used to bet on market direction or changes in volatility levels....

    Investing

    In both cases a (usually near the money) option is sold and used to partially fund the purchase of two (or more) out of...

    Investing

    What’s the Difference Between SPX and SPY Options? Dividends Dividends are not normally paid to options holders. However, SPY pays a dividend every quarter. This is...

    Disclaimer: Dailyplanningcapabilities.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 Dailyplanningcapabilities.com