Rep. Gary Palmer says energy is a significant component of inflation

By Brandon Moseley - March 15, 2023

Following the unveiling of H.R. 1, the Lowering Energy Cost Act, which included H.R. 1023, the Greenhouse Gas Reduction Fund Repeal, Congressman Gary Palmer said that energy is a significant component of inflation.

“A significant factor of increased inflation is energy,” Palmer said in a press release. “Millions of American households are struggling to make ends meet because of President Biden’s highly inflationary energy policies. Today, House Republicans are charting a better path forward. One that lowers energy costs and keeps our nation more secure through energy independence. H.R. 1, the Lower Energy Costs Act, shows the priorities of Republicans who are focused on ensuring American households have reliable and affordable energy and that our nation does not become reliant on China. I am glad to see my bill to eliminate President Biden’s climate bank is included in this legislation. I applaud the work of my colleagues on both the Energy & Commerce Committee and the Natural Resources Committee for putting together this comprehensive American energy bill.”

Palmer is the author of a portion of the bill eliminating the EPA’s climate bank.

“The Democrat’s misnamed Inflation Reduction Act established a taxpayer-funded $27 billion slush fund to fund investments in green energy projects, much like those funded by the failed Silicon Valley Bank,” said Rep. Palmer. “That bill, which received no Republican support, created this Green New Deal slush fund and raises many concerns about lack of accountability and oversight.”

“Over 20 million Americans are currently behind on their utility bills, and lower-income and senior citizen Americans are especially hard pressed,” Palmer explained. “They are not begging for more electric vehicles or solar panels, they are asking for their energy bills to be more affordable. If Democrats and the Biden Administration wanted to do something about the current energy crisis, they would unleash American energy instead of forcing us into inadequate and unreliable green energy. Their policies will not only fail to meet our economy’s energy needs, they will also make America reliant on China for materials needed for wind turbines and solar panels. If we learn nothing else from the war in Ukraine, it should be this fact: that no nation should become reliant on an adversarial nation for something as critical for its economy and national security as energy. America is an energy superpower. We should use our vast resources to restore our economy’s vitality, to ensure our national security, and to meet the energy needs of our allies around the world.”

In 2022, Democrats, under the leadership of then-Speaker of the House Nancy Pelosi, approved a $27 billion slush fund called the “Greenhouse Gas Reduction Fund” as part of the omnibus “Inflation Reduction Act.” This fund was given to the Environmental Protection Agency (EPA) to hand out to local governments and private entities to reduce greenhouse gas emissions by promoting green energy sources.

Gary Palmer was interviewed about the Greenhouse Gas Reduction Fund by the Daily Signal. $7 billion of that money is reserved for states, municipalities, tribal governments, and nonprofit organizations. The goal is to leverage private funding, according to the EPA. This money will be used “to enable the deployment of residential rooftop solar, community solar, and associated storage and upgrades in low-income and disadvantaged communities,” the agency says.

The $20 billion pot is reserved for nonprofits “that will collaborate with community financing institutions like green banks, community development financial institutions, credit unions, housing finance agencies, and others,” according to the EPA. $8 billion will be for low-income and disadvantaged communities in alignment with the Biden administration’s Justice40 Initiative and primarily will involve nonprofit organizations.

If H.R. 1 were to become law, it would repeal the Greenhouse Reduction Act and end this wasteful slush fund reducing the deficit by $27 billion.

Palmer is in his fifth term in office representing Alabama’s Sixth Congressional District. He recently announced to the Mid-Alabama Republican Club in Vestavia Hills that he will run for re-election in 2024.