WATCH: Biden Casually Admits The 'Inflation Reduction Act' Had Nothing To Do With Inflation

President Biden casually admitted that the "Inflation Reduction Act" was actually a massive cash infusion to the green energy lobby while speaking at an energy event in Wisconsin on Thursday.

Biden was in the the battleground state to celebrate the Biden-Harris administration's $7.3 billion "rural electrification" funding drawn from the Inflation Reduction Act.

According to a White House fact sheet, the latest release will support 16 rural electric cooperatives across 23 states as part of an effort to provide affordable electricity to roughly 5 million rural households. Similar projects under the Biden-Harris Administration's Green New Deal policies typically consist of constructing wind turbines.

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While speaking to reporters and green energy advocates, Biden made a stunning admission about the purpose of the "Inflation Reduction Act."

"My investments, through my investments, the most significant climate change law ever," the president said. "And by the way, it is a $369 billion bill, it's called - we should have named it what it was. But, at any rate," Biden continued in his off-script tangent.

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President Biden and Vice President Harris have long credited the legislation with lowering inflation without citing any relevant data, as inflation remains sky high when compared with former President Donald Trump's presidency.

The Biden-Harris Administration had long pointed to the green energy portions of the massive spending package as a major source of jobs and innovation, though energy prices are up significantly since 2020. Daniel Turner, founder of the environmental group Power the Future, slammed Biden's latest spending plan and objected to the politically motivated timing of the announcement.

"Here we are 61 days before the election, and just now they happen to announce seven and a half billion dollars for a very important swing state," Turner said in a statement to Fox News. "I am sick and tired of hearing that these investments are going to lower costs because utility bills are up 30% since the Biden administration took over, and all we've done is continue to, quote, unquote, invest in wind and solar, and prices have not come down, and evidence of that is around the world."

Vice President Harris has even been running away from her own administration's green energy policies in recent weeks. The Democratic nominee recently stated that she is not in favor of electric vehicle mandates, directly contradicting President Biden's directives to convert federal and military non-combat vehicles from gas to electric by 2030.

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