Even with energy costs at record highs, Joe Biden’s White House is proposing new energy taxes trying to encourage people to stop using oil, gas, and coal energy.
Experts are estimating that these taxes, resulting in higher costs for everyday products that millions of Americans’ are struggling to pay, including gasoline, will further kill the economy.
The White House said Americans should pay higher taxes to ensure a rapid green transition away from fossil fuels in a report on President Joe Biden’s economic record.
The federal government can encourage such a shift through carbon taxes or a cap and trade system forcing an emissions limit on companies, said the Council of Economic Advisers (CEA) report released last week. The White House added that consumers would continue purchasing “artificially inexpensive, carbon-intensive goods” without proper government policies in place.
“Such carbon prices could be implemented directly via carbon taxes, indirectly through a cap on emissions and tradable permits, or through other similar policy tools,” the CEA said in the report. “Government revenues from the carbon price can be used to compensate consumers for increases in energy prices or to invest in other societal priorities.”
From the report, the Biden regime will tax consumers to bring on more pain without viable options ready to replace fossil fuels.