Today President Biden is signing into law the tax and spending bill deceptively referred to as the “Inflation Reduction Act” by those Inside Biden’s Basement. Or at least that’s what they called it when they still needed the votes. For those who are struggling to put food on the table and fuel in your car, rest assured this new tax and spending law will do nothing to reduce inflation.
In fact, it will drive up prices for gas and food even higher by imposing the Green New Deal on the American people. What may be even worse is that it’s paid for by giving the IRS 87,000 new agents and $80 billion it will use to hound and badger small businesses and the administration’s political opponents to squeeze more money from them.
Who’s responsible? We’ve identified some suspects Inside Biden’s Basement who likely contributed to creating this fiasco, which will be another body-blow to the economy and your quality of life.
Lily Batchelder (Net Worth: $1.4M-$3.5M)
Assistant Secretary for Tax Policy, Department of the Treasury
One of nearly two dozen appointees formerly employed by New York University, Batchelder is also a former lobbyist for Big Law. She was Biden’s Transition Team head for the IRS and is likely an architect of the controversial proposal to supercharge the IRS with 87,000 new agents to harass small business owners and political opponents at a cost of roughly $80 billion. With Batchelder at Treasury, the IRS has kept millions of Americans waiting for months for their tax returns. She was also likely involved in the failed proposal to require banks to report account inflows and outflows as low as $600 (and later increased to $10,000), an unprecedented intrusion into the financial affairs of most Americans.
Jigar Shah (Net Worth: $9.3M-$37.7M)
Director of Loan Programs Office, Department of Energy
Prior to joining the Biden Administration, Shah was a major player in the U.S. solar power venture capital industry. He is Secretary Granholm’s point man on reviving the loan program that funded duds like Solyndra and A123 Systems, losing hundreds of millions of taxpayer dollars. Shah has helped drive additional funds to his boss’ former employer Proterra and their partners in 2021, resulting in ethics complaints being filed against Secretary Granholm. The new tax and spending law is set to deliver billions of dollars for DOE to hand out to future Solyndras. Major infrastructure and renewable energy investors such as Shah’s former employer Generate Capital are also likely to reap a windfall from the panoply of new and extended tax credits, deductions, and loans offered by DOE.
Adrienne Wojciechowski McCann (Net Worth: $1.4M-$3.1M)
Assistant Secretary for Congressional Relations – U.S. Department of Agriculture
Former staffer for Senator Leahy and lobbyist for Nature Conservancy, Wojciechowski is in charge of ensuring the USDA’s congressional priorities make their way into legislative boondoggles, such as the new tax and spending law. While everyday Americans struggle to afford meat and basic food supplies, this new law will spend tens of billions on clean energy and climate-obsessed agriculture practices, likely driving the cost of food only higher. All told, the USDA will likely receive about 10% of the money being spent on climate change. The Nature Conservancy, meanwhile, will likely continue to get about 10% of its funding, and maybe more, from Wojciechowski’s Department and the Department of the Interior.
Ben Harris (Net Worth: $3.3M-$8.0M)
Assistant Secretary for Economic Policy, Department of the Treasury
Harris was Chief Economist and chief economic advisor to Vice President Biden from 2014-2017. He is now responsible for developing domestic and international economic policy as well as preparing the Administration’s budget. Harris’ fingerprints are all over the Green New Deal in disguise, including the dramatic expansion of the IRS and raising taxes in the midst of a recession and record-inflation. He is also a likely candidate for efforts to redefine recession and explain away runaway inflation.
Victoria Beacher Wassmer (Net Worth: $2.9M-$8.2M)
Assistant Secretary for Finance and Budget, Department of Transportation
Principal fiscal advisor to Secretary Buttigieg, who has consistently dismissed the cost of surging gas prices and urged people to just buy an electric car. Wassmer is responsible for the Administration’s budget development, including billions for electric vehicles and low carbon building materials in the tax and spending law. She was also likely involved in doling out the funds from last year’s infrastructure law. After the law passed, DOT attempted to restrict those funds from being used to expand traffic capacity in a now-infamous memo to states that has since been walked back. Prior to joining the Biden Administration, Wassmer was with Ernst and Young, now under fire for hiding the fact that numerous auditors who have worked for the company cheated on their CPA exams.
Joe Goffman (Net Worth: Unknown)
Principal Deputy Assistant Administrator for Air & Radiation, Environmental Protection Agency
Goffman heads the EPA office leading the charge on climate change regulation. He was a chief architect of Obama’s Clean Power Plan, a major power grab by the agency that was ultimately stopped by the Supreme Court. He is a key player in the climate lobby’s NGO apparatus, running an activist legal organization sponsored by Harvard University, and now up for nomination to officially head the EPA’s Clean Air Act office. Goffman’s potential conflicts of interest include dozens of companies and over 30 entire industry sectors. Little reported, the tax and spending law is set to impose the nation’s first federal fee on Greenhouse Gas Emissions in the form of a methane fee. This fee, administered by Goffman’s office, is almost certain to drive up the cost of energy and corresponding goods and outputs even further. This provision has the potential to single-handedly drive inflation still higher across the economy.
Chiquita Brooks-LaSure (Net Worth: $283k-$820k)
Administrator for Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services
Key architect of Obamacare, which drove up the price of health care and kicked millions of people off of their existing health insurance plans, Brooks-LaSure continues to demand the growth of government-funded health care. As premiums have risen and subsidies for health care have approached expiration, Brooks-LaSure has advocated for endless taxpayer support. The new tax and spending law extends Obamacare subsidies and delivers a long-time progressive goal of price controls over select prescription drugs that the Administrator of CMS will oversee. While price controls have historically had many negative effects, the biggest impact of this policy might be the diminished incentive for U.S. innovation in the pharmaceutical industry driving research to countries like China.
Sonia Aggarwal (Net Worth: Unknown)
Senior Advisor to the President for Climate Policy and Innovation, White House
The administration’s lead analyst developing their climate modeling software, Aggarwal’s efforts have supported the climate change agenda in deeply impactful ways, such as providing analytical support for their social cost of carbon pricing scheme. This will be factored into all federal decision-making and environmental analyses, raising the costs and prolonging the process of obtaining federal permits, approvals, and ultimately, the prospects for major infrastructure projects like pipelines and energy export facilities. Aggarwal’s contribution to the American economy will be locked-in higher energy costs and corresponding inflation across most sectors of the economy. Making matters worse, with the Green New Deal in disguise doubling down on climate-related spending, the harmful effects of Aggarwal’s climate modeling is sure to be felt by tens of millions of American families and businesses.
Ali Zaidi (Net Worth: $281k-$725k)
Deputy National Climate Advisor, White House
Top state official handling energy and environment policy for disgraced New York Governor Cuomo as he maintained a ban on all pipeline development into and through the state, contributing to increased energy poverty throughout the Northeast. Zaidi is a major player in crafting and executing the Biden Administration’s climate agenda, causing increased energy dependence on hostile foreign dictators, skyrocketing gas prices, and inflation across the economy. The tax and spending law is primarily another bill meant to force fossil fuel prices higher, subsidize the renewable energy industry, and pad the pockets of their climate special interest cronies.
Radha Adhar (Net Worth: $536k-$1.2M)
Director of Legislative Affairs, Council for Environmental Quality
Former lobbyist for the Sierra Club, a major architect and beneficiary of the Biden Administration climate agenda that has driven up gas prices and funneled billions of dollars to renewable energy advocates and the environmental lobby. Adhar recently switched agencies, moving from the EPA to CEQ. As legislative director, she will advance the administration’s policy of reversing permitting reforms undertaken under President Trump, likely resulting in the scuttling of new roads, bridges, and oil and gas pipeline projects. Democrats in the Senate had an opportunity to pass genuine permitting reform leading up to passage of the tax and spending bill but voted to kill the amendment. Adhar’s contribution to the American economy will be weakened American manufacturing and investment and a more dysfunctional federal government.
Statement from Inside Biden’s Basement Director Derrick Hollie:
“The deception in referring to this legislation as the ‘Inflation Reduction Act’ when its only effect on inflation will be to increase it, is not even the worst part of the law. It is designed to supercharge implementation of the Green New Deal, fast-track the destruction of our health care system, and harass small business owners and everyone who has the audacity to disagree with the officials Inside Biden’s Basement. The American people need to know who are those responsible for the resulting damage to the economy and their way of life. Inside Biden’s Basement is here to expose them.”