What’s to blame? The change in the balance of power between large corporations and the government
By Robert Reich, The Guardian
The Clean Air Act of 1970 authorized the government to regulate air pollution.
The Inflation Reduction Act, which Joe Biden signed into law this past week, allocates more than $300bn to energy and climate reform, including $30bn in subsidies for manufacturers of solar panels and wind turbines.
Notice the difference?
The Inflation Reduction Act is an important step toward slowing or reversing climate the crisis. It also illustrates the nation’s shift away from regulating businesses to subsidizing businesses.
From 1932 through the late 1970s, the government mainly regulated businesses. This was the era of the alphabet soup of regulatory agencies begun under Franklin D Roosevelt (the SEC, ICC, FCC, CAB, and so on) culminating in the EPA of 1970.
The government still regulates businesses, of course, but the biggest thing the federal government now does with businesses is subsidize them.
Recent Posts
Biden Brags About Debt Deal While Progressives Shake Their Heads
Take Action Now “Here’s the news media’s takeaway on the debt ceiling deal: Yay! Bipartisanship works!…
American Jews Are More Ambivalent About Israel Than Ever
Take Action Now Grappling with a far-right government and growing awareness of the Nakba, American Jews revealed mixed feelings marking…
Weapons Manufacturers Are Overjoyed About The Debt Ceiling Deal
Take Action Now Lockheed Martin’s James Taiclet called the bill ‘as good an outcome as our industry or our company could ask for.’……
Police Arrest Organizers Behind Cop City Protester Bail Fund
Take Action Now “There is no First Amendment in Atlanta,” wrote activist Micah Herskind. By Sharo n Zhang, truthout Law enforcement officers in…