DOE: Reinstating ’22 Budget Would Be ‘Catastrophic’ for Biden’s ‘Green Energy’ Plans
The U.S. Department of Energy (DOE) maintains scaling its $52 billion Fiscal Year 2024 (FY24) budget request back to FY22 funding levels, as House Republicans are proposing, would raise costs for consumers, taxpayers, and industry while derailing momentum in “re-shoring” domestic manufacturing capacity.
“That would be absolutely catastrophic at this critical moment,” DOE Deputy Secretary David Turk told the Senate Appropriations Committee’s Energy & Water Development Subcommittee during a May 3 budget hearing.
According to DOE, “green energy” incentives offered in 2021’s Bipartisan Infrastructure Law (BIL) and 2022’s Inflation Reduction Act (IRA) are generating increasing investor interest in emerging technologies and revisioned industries, including manufacturing….