Home USA News If Trump overturns the IRA, hundreds of billions of investments in Texas will be destroyed and many red states will become losers.

If Trump overturns the IRA, hundreds of billions of investments in Texas will be destroyed and many red states will become losers.

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If Trump overturns the IRA, hundreds of billions of investments in Texas will be destroyed and many red states will become losers.

Over the past few months, former PresidenttrumpCampaign managers have told the media that if Trump wins the 2024 election, he will overturn the “Inflation Reduction Act (IRA)” passed by Congress in 2022 and cancel all plans during Biden’s term. Newsweek reported on the 1st,texasIt is the largest beneficiary of the “Inflation Reduction Act” and is expected to receive investment of 131 billion yuan by 2023. Experts say the bill’s provisions attract solar manufacturers to settle in Texas. Once the plan fails, the solar industry and battery industry will return to China.

The “Inflation Reduction Act” provides 500 billion yuan in basic investment funds for the transition to a green economy. Experts say it will not be easy for Trump to completely overturn the contents of the bill. This would result in economic benefits for states including Texas. Domestic petrochemical oil prices may remain high due to snatching by China and other countries.

Doug Levin, a Texas-based energy industry consultant, said in an interview: The “Inflation Reduction Act” actually packages “industrial policy” as “climate policy,” just like we see the emergence of this wave of emerging industries. Looking said this trend could allow Texas to gain a place in the US clean energy economy.

Energy think tank Rocky Mountain Institute (RMI) analyzed that Texas is the biggest beneficiary of the “Inflation Reduction Act” and will receive a total of 131 billion yuan of investment by 2023. OtherRepublican PartyThe governed states have also benefited. For example, large-scale battery storage facilities have been installed in Georgia and Arizona, and solar farms with the installation of large-scale solar panels in Texas and Alabama.

Reports indicate that members of Congress may hesitate to remove the economic stimulus created by the Inflation Reduction Act.

Roger Karapin, a political science professor at Hunter College in New York who is an expert in environmental policy, said that if Trump wants to overturn the “Inflation Reduction Act”, he must have 60 votes in the Senate, but only if the Republican Party As the majority party in the Senate largely decided to pass the reconciliation bill, almost all Republican senators could not vote during the vote. After all, the difference in seats between the two parties is extremely small, and there is no room for mistakes.

Kelabin said the “Inflation Reduction Act” has given disproportionate benefits to some Republican-controlled states or districts, and some Republican senators may defect if the bill is overturned. “This kind of development would surprise no one.”

Li Wen pointed out that a solar energy company in Texas recently said that it previously purchased solar panels from China, but now it has received funding and will build a factory near Houston. This is all because of the “Inflation Reduction Act”. Li Wen said that if the bill is repealed, the solar and battery industries will return to China in the future.

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