At the World Economic Forum (WEF) on Wednesday, former Vice President Al Gore admitted and touted what critics have long said about the Inflation Reduction Act, prompting Sen. Ted Cruz (R-Texas) to agree.
“Fact check: true,” Cruz tweeted Thursday night, posting a video clip of Gore speaking at WEF’s annual meeting in Davos, Switzerland.
Fact check: true. https://t.co/M6bclaLC0q— Ted Cruz (@tedcruz) January 19, 2023
In the video, climate-activist Gore admits that Democrats’ “Inflation Reduction Act” signed into law last year is, in reality, mostly a climate change measure. Gore goes on to laugh and say that he’s confident the bill will actually end up spending far more than $369 billion on climate:
"In my country, we passed the Inflation Reduction Act - which is primarily a climate act - $369 billion, which will actually be much larger than that, because the heavy lifting is done by tax credits that are very long-term, some of them actually open-ended.
"And, the early investments that have already been triggered by it give a great deal of reason, many reasons, for believing it’s going to be much bigger than $369 billion. So, I’m very encouraged by that.”
Indeed, as Fox News notes, half of the $739 billion law’s spending is dedicated to Democrats’ climate agenda:
“The $739 billion package was passed last year to combat soaring costs that have hamstrung many Americans. Included in the legislation is an estimated $369 billion going toward investments in "Energy Security and Climate Change.”
“The Environmental Defense Fund called it the ‘biggest package of climate investments in U.S. history,’” Fox News reports.