Like a politician talking out of both sides of his mouth, Biden claims to be against corporate welfare one minute, and then handing it out in spades the next.

During his most recent State of the Union address, Biden strongly asserted, “….the days of trickle-down economics are over and the wealthy and the biggest corporations no longer get the — all the tax breaks.” Earlier that day the White House published a fact sheet claiming that Biden would “invest in America by making big corporations and the wealthy pay their fair share.”

And yet, the Cato Institute concluded this week that Biden has actually boosted corporate tax expenditures by 92 percent since Trump left office. Tax expenditures include anything from exclusions, deductions, deferrals, credits, and special tax rates for specific groups.

But these breaks aren’t across-the-board tax cuts. As Cato points out, the three major bills Biden signed into law contain “a mess of complex loopholes with special rules for favored industries.” Who are the favored industries? It’s no secret that Biden is antagonistic toward the fossil fuel industry; his top priorities center on pushing a green agenda.

The Infrastructure Investment and Jobs Act of 2021 increased federal subsidies by $548 billion. This bill included major tax credits for electric utilities and the electric vehicle industry.

The CHIPs and Science Act gave $39 billion of its $54 billion in subsidies to semiconductor companies.

Read the full Townhall article here.

Kristen Walker is a policy analyst for the American Consumer Institute, a nonprofit education and research organization. For more information about the Institute, visit or follow us on Twitter @ConsumerPal.