WASHINGTON, DC – As Congress mulls the possibility of transitioning the United States into a global green energy leader through a Biden Administration plan, Republicans are sounding the alarm that they’ll not help pass the $2.3 trillion plan. Instead, some members of the minority party are working up solutions that could be approved on a bipartisan basis. A case in point is the $568 billion, five-year plan announced by Sen. Shelly Moore Capito (R-WV), the ranking member on the Senate Environment and Public Works Committee which would be paid for by repurposing already approved funding from the recent $1.9 trillion COVID-19 bills and the introduction of user fees. The administration’s American Jobs Plan would extend renewable energy tax credits, mandate clean energy and modernize highways, bridges, public transportation, and airports while moving the power sector to 100 percent emissions-free generation by 2035. Republican pushback has come due to the overall cost of the Biden plan, which the White House suggests will be paid for by increasing the average corporate tax rate to 28 percent while also implementing a targeted minimum corporate tax. White House figures say the plan would generate over $2 trillion over the next 15 years. House Democrats are also working on a comprehensive transportation bill that could be teed up for committee consideration in May, as either a replacement for or enhancement to the American Jobs Plan.
(SOURCE: All Ag News)