The Shaheen–Portman Energy Efficiency Bill: A Costly, Inefficient Use of Taxpayer Money
Senators Jeanne Shaheen (D–NH) and Rob Portman (R–OH) recently introduced the Energy Savings and Industrial Competitiveness Act, which provides a host of federal incentives to make buildings and manufacturing processes more efficient. The Senators tout the energy efficiency upgrades as money-savers for consumers and businesses, and claim they will make America more energy independent and reduce greenhouse gas emissions. If the payoff is so great, why can companies and families not make these investments without the aid of the taxpayer? The Heritage Foundation’s Nicolas Loris explains why markets have long been the best tool to drive efficiency, and how the government’s intrusion with mandates and subsidies makes all Americans worse off.