💨 Abstract

The U.S. clean energy tax subsidies under President Biden's Inflation Reduction Act are projected to increase U.S. budget deficits by $825 billion over the next 10 years, according to the Congressional Budget Office director Philip Swagel. This is significantly higher than the initial $270 billion estimate due to a different budget window and rule changes that increased electric vehicle subsidies.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖