President Biden signed into law the Infrastructure Investment and Jobs Act, which authorized $1.2 trillion in new spending, including crony subsidies for green energy. The bill used budget gimmicks, extended fees on mortgages, as well as harmful new taxes on cryptocurrency to “bring down” its top-line cost.
The Biden administration changed the USA’s UN vote from ‘no’ to ‘abstention’ on UNRWA affirmation, breaking with the voting pattern on Israel set by the Trump administration. The Biden administration did not reject a UN General Assembly Resolution granting Palestinian refugees the right to return to Israel.
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) officially announced the imposition of a vaccine mandate for employees of large employers (100 or more employees) in a blatant abuse of power from the Biden administration dictating the personal medical decisions of millions of Americans. The mandate, which would have applied to more than 80 million American workers, was later struck down as unconstitutional by the United States Supreme Court in the case NFIB v. OSHA (595 U.S.
The Biden “Build Back Better” plan was introduced with a bevy of destructive policies that would cripple domestic oil and gas producers. Among these destructive policies, the plan featured a tax on natural gas, in the form of a tax on up to $1500 per ton of methane. It also would increase fees and royalties for both onshore and offshore oil and gas production, while implementing an $8 billion tax on companies that produce, process, transmit, or store oil and natural gas. The plan drives up costs for fossil fuel competition, expanding the EV Tax Credit from $7,500 to $12,500. The plan also includes a $13 billion tax increase on oil production, increasing the tax on each barrel of crude oil from 9.7 cents to 16.4 cents.
The Biden administration launched a Global Methane Pledge with a stated goal of reducing global methane emissions and limiting global warming to 1.5 degrees Celsius. Notably, Russia and China did not sign the pledge, which increased the world’s reliance on those countries for oil and gas while simultaneously hamstringing the U.S. domestic natural gas industry.