The irony of the Build Back Better bill passed in the House with Speaker Nancy Pelosi’s brute force last week is that it is called a “reconciliation” bill, since it attempts to straddle so many irreconcilable differences in the Democratic Party.
The whole mess now moves to the Senate, where two things are certain: The final bill, if it passes at all, will be drastically different from the House bill; and the final bill will contain hundreds of billions for “climate-change action” and “clean energy” because this (along with racism) is the central mania of the Democratic Party today.
Aside from the huge price tag, will the climate and energy features add up to a serious and coherent policy? If the House bill is any indication, the answer is a resounding “No.”
The headline is that Build Back Better includes more than $500 billion for climate and clean-energy measures, but keep in mind that the already-passed bipartisan infrastructure bill included $150 billion for clean-energy baubles such as electric-vehicle chargers ($7.5 billion) and electric school buses ($5 billion), so the grand total of both bills would be about $650 billion.
What are we actually getting for that eye-popping sum?
Some of the infrastructure bill targets worthy improvements, such as $65 billion for upgrading our creaky electricity grid and $50 billion for “climate resilience,” which includes common-sense steps such as building more robust defenses against flooding and better managing national forests to reduce wildfire risk.
The bulk of the Build Back Better bill, on the other hand, consists of large tax credits and subsidies for special interests with marginal benefits — and, incredibly, still more tax breaks for the affluent on top of the reinstatement of the state and local tax deduction that will deliver more than 90 percent of its benefits to the top 1 percent of income earners.
Speaker Nancy Pelosi is now sending all of the right signals that her retirement is imminent. A hedge fund manager is reporting that Pelosi has entered in a contract to purchase a Florida mansion for an inordinate sum of money.
“Nancy Pelosi just went into contract to buy a Florida oceanfront mansion listed for $25,000,000,” Gabe Hoffman said. “Just checked with top broker in area who confirmed this information: 10,000 sf property on Jupiter Island just changed to ‘pending’ on MLS.”
“Upon close of transaction, typically in 30 days, the net sale price will be a couple million lower than listed price, to reflect commission & property tax deductions,” Hoffman noted.
“The Buyer may be possibly listed as Pelosi-related 3rd party, Land Trust, or holding corporation,” Hoffman continued. “Pelosi’s husband, Paul Pelosi, is extremely wealthy, and may likely be represented on Buyer documentation at closing. Pelosi is apparently not afraid of oceans rising due to climate change,” he added.
Indeed, Pelosi is not the only wealthy Democrat Party politician who has whipped up climate hysteria while purchasing beach front property.
Climate guru Al Gore bought an $8.9 million ocean front villa in secluded Montecito, California in 2010.
The Securities and Exchange Commission (SEC) charged a company cofounded by Paul Pelosi Jr. with fraud on Wednesday after learning that two convicted criminals were running the business.
Paul Pelosi Jr., the son of House Minority Leader Nancy Pelosi (D., Calif.), was the president and chief operating officer of Natural Blue Resources Inc., an investment company he cofounded that focuses on “environmentally-friendly” ventures.
The SEC charged four individuals with fraud, including former New Mexico Gov. Toney Anaya, and suspended trading in the company’s stock. Pelosi owned over 10 million shares in the company in 2009.
Speaker of the House Nancy Pelosi (D-Calif.) has doubled down on a provision in the Democrats’ multi-trillion-dollar reconciliation bill that would allow the Internal Revenue Service (IRS) to see information on all Americans’ bank transactions totaling $600 or more. Republicans and banks have raised the alarm about the provision, reporting that their constituents and clients are deeply concerned about the proposal.
Since the introduction of their reconciliation bill, Democrats have insisted that the bill will not add to the debt or the deficit, claiming that all new spending in the bill will be paid for.
Along with significantly increasing marginal tax rates to pay for the bill, Democrats proposed and wrote into the bill a section to allow the IRS to gather Americans’ private information from banks, including information on all transactions totaling more than $600.
House Speaker Nancy Pelosi, D-Calif., has served in Congress for nearly 34 years and presently presides in a top-tier position as one of the most powerful figures in the U.S. government. Amid a recent flurry of complicated decisions she’s had to face as leader of her caucus, Fox News host Jesse Watters launched a “Watters’ World” investigation into her financial dealings during her tenure in politics.
Last week, the Speaker was unable to pass the bipartisan infrastructure bill as progressives in her own party signaled their disapproval. Watters condemned her policies, saying they’re making it “harder and harder for average Americans to accumulate wealth,” shackling them with taxes and “destroying the dollar with reckless spending.”
The current salary of a Speaker of the House sits in the low six-figures, yet Pelosi is one of the richest members of Congress.
So what is her secret, asked Watters: “It appears to be her husband, Paul.”
When in doubt, pick the same stocks that lawmakers’ spouses are buying? That’s what retail investors are doing when it comes to trades made by House Speaker Nancy Pelosi’s husband, Paul Pelosi, a businessman who owns a real estate and venture capital firm.
Though Nancy Pelosi herself doesn’t trade stocks, her husband does. And that’s enough for some social traders, who see his trades as hers. “We’ve been tracking their performance and every single stock she has bought in the last two years has gone up significantly,” Christopher Josephs, cofounder of Iris, told Yahoo Finance Live. Iris is a social investing app allowing users to see the same stocks friends, influencers and professionals are buying.
Trades made by lawmakers or their family members are required to be disclosed within 45 days of execution.
Earlier today, one of the most consequential stories in a long time broke with the revelation that Gen. Mark Milley, now Chairman of the Joint Chiefs of Staff, had colluded with the Chinese to possibly commit treason. The discussion that led to the quote in question happened via secret, unsanctioned calls between Milley and a top Chinese general. At one point, Milley is reported to have pledged to the Chinese that he would tip them off about any possible attack coming from the United States.
Later, it was revealed that Milley was working with Nancy Pelosi, both of whom were trying to subvert the constitutional system in order to essentially neuter Donald Trump’s ability to function as Commander in Chief.
Now, the clean-up crew has arrived to gaslight everyone and claim that was transpired not only didn’t amount to an intention to commit treason but was “routine.”
Speaker Pelosi on Thursday announced House staffers can earn up to $199,300 salary.
Pelosi raised the salary cap for top staffers from $173,900 to $199,300 to help recruit top talent.
“As Speaker, I have been proud to take steps to ensure a diversity of experience and talent among staff, so that the halls of Congress, at every level, truly reflect those who we are honored to serve,” Pelosi announced.
“To that end, today, it is my privilege to announce an important new reform for our institution: raising the maximum annual rate of pay for staff to $199,300. This order will help the Congress recruit and retain the outstanding and diverse talent that we need, as it also helps ensure parity between employees of the House of Representatives and other employees of the Federal Government,” she added.
Meanwhile inflation and rising gas prices are hurting American families.
Gas prices have spiked 41% since Joe Biden was installed in January.
The national average for a gallon of gas is $3.186 – over a $1 per gallon increase in the last year.
U.S. producer price inflation soars 7.8% annually in July, the highest increase on record.
The “experts” said it was going to come down from 7.2% this month. Boy were they wrong.