Tag: Lose

[ad_1] The Inflation Reduction Act (IRA) recently signed by President Biden includes more than $200 billion energy tax subsidy in the next decade. As its supporters say, it is the largest package of stimulus aimed at slowing climate change ever implemented by Congress. But it also puts America on a relatively inefficient path to clean energy. Broadly speaking, the problem is a familiar one: While most economists prefer a stick (higher tax) to encourage alternatives by raising the price of fossil fuels, most politicians prefer a carrot-tax subsidy to encourage…