Ramaswamy Blames Biden’s Green Energy Policy For Damaging Small Business

(TargetDailyNews.com) – Republican presidential candidate Vivek Ramaswamy recently said that President Joe Biden’s climate change agenda has left small businesses “holding the bag.”

The Inflation Reduction Act, which Biden signed in August 2022, included a $370 billion provision to combat climate change. Included in that large provision are green energy subsidies, such as a $7,500 tax credit for companies producing electric vehicles, as well as the Environmental Protection Agency (EPA)’s expanded control over the country’s energy sector.

While appearing on Fox News’ “Ingraham Angle,” guest hosted by Brian Kilmeade, Ramaswamy said that prices have gone up while wages have largely stagnated. He also said that “Bidenomics,” has only provided an “optical illusion” of economic growth through rampant government spending and the expanded regulatory power of executive branch agencies, such as the EPA.

“Bidenomics” is a word commonly used by conservatives to ridicule the Biden administration’s economic agenda. However, the word was first coined by the Wall Street Journal, which then eventually resulted in Biden embracing the word for the purpose of promoting his economic agenda.

Ramaswamy also said that the Biden administration’s green energy policies were unfair to small businesses, pointing out that large electric vehicle manufacturers get to enjoy hefty tax breaks while small businesses largely miss out on such benefits.

The presidential hopeful also said that the country is in need of a “revival” of true capitalism, as opposed to “crony capitalism,” which he believes has resulted in the government favoring a small number of large corporations at the expense of the middle class. He said that the law should apply equally to all companies and that a restoration of true free market economics would let all businesses compete with each other fairly in order to counter government corporate favoritism.

The news comes as Biden, who was propelled to the White House with 81 million votes nationwide in 2020, now only enjoys a 38.1% approval rating, with a 58% disapproval rating, according to the RealClearPolitics polling average.

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