With the introduction of their amended Build Back Better spending program, which would pour billions into green climate measures, Democratic legislators have enraged Republicans.
Sen. Joe Manchin and Senate Majority Leader Chuck Schumer said that they had developed and agreed upon a fresh, resurrected version of the plan after a failed attempt to approve it last year.
It would employ enormous quantities of money to finance energy expenditures, including in nuclear, renewables, and fossil fuels, and it will include a minimum tax of 15% on corporations worth more than $1 billion.
The House measure also contained $4.75 billion for the actual implementation of such programs and $250 million in incentives for local governments to develop green policies and cut emissions.
Climate advocates were thrilled to hear that significant funding will be going toward green initiatives. The expenditure plan, according to Carolyn Berndt, legislative director for sustainability, might be a useful addition.
Democrats have already crushed American families with historic inflation.— Leader McConnell (@LeaderMcConnell) July 27, 2022
Now they want to pile on giant tax hikes that will hammer workers and kill many thousands of American jobs.
First they killed your family's budget. Now they want to kill your job too.
Republicans have cautioned that the measure calls for spending far too much on initiatives that are at best simply concepts, and that the original law mainly left it up to individual states to decide how the money is spent.
The law also comes as national inflation rates have been at historically high levels for several years, making it difficult for many hard-working families to pay for necessities.
On Twitter, Sen. Marsha Blackburn, R-Tenn., branded the bill “Build Back Broke” and added that it would “bankrupt America.”
Mitch McConnell, the minority leader in the Senate, tweeted his compassion for American families facing hardship, “Democrats gave already crushed American families with historic inflation. Now they want to pile on tax hikes that will hammer workers and kill many thousands of American jobs. First they killed your family’s budget. Now they want to kill your job too.”
Sen. Roger Wicker reiterated his worries.