Germany, widely known as Europe’s industrial powerhouse, is now leading the continent in an alarming new trend — rapid de-industrialization.
Astronomical natural gas prices are forcing heavy industries, from smelters to fertilizer plants, to shut down or curtail production. Germany’s fabled “Mittelstand” — the collection of mid-sized firms that form the backbone of its economic might — is buckling under the weight of terrible decisions made by climate obsessed politicians going back decades.
Democrats have inserted numerous provisions and subsidy programs into their $3.5 trillion budget that would benefit green energy companies and speed the transition to renewables.
The Build Back Better Act would invest an estimated $295 billion of taxpayer money into a variety of clean energy programs in what would amount to the most sweeping climate effort passed by Congress, according to a House Committee on Energy and Commerce report. That price tag doesn’t factor in the other costly measures approved by the House Ways and Means, Agriculture, Natural Resources, Oversight and Transportation committees last month.
“This bill is crammed with green welfare subsidies, specifically for corporations and the wealthy,” House Ways and Means Ranking Member Kevin Brady told the Daily Caller News Foundation in an interview.
A group of Republican state attorneys general alleged in a federal lawsuit filed Monday that President Joe Biden’s climate policies are a major overreach and could damage their states’ economies.
The 12-state coalition said Biden overstepped his constitutional authority by declaring there were “social costs” of continued greenhouse gas emissions in a Jan. 20 executive order. The lawsuit, filed in the U.S. District Court for the Eastern District Court of Missouri, argued that assigning such costs is a “quintessentially legislative action” that falls within Congress’ authority.