by Martin Armstrong, Armstrong Economics:

The Clean School Bus Program has been funded with a $5 billion grant from the Inflation Reduction Act that should be appropriately named the Climate Change Act. Around $1 billion of this will be spent on electric school buses. As with all spending plans, the budget quickly jumped from $500 million to $1 billion after the EPA said there was a strong demand. The buses will first be tested in low-income districts, and the people are not happy.