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Wednesday, October 27, 2021

Democrats Alarmed CEOs Not Rushing to Support Climate Bill Trillion Dollar Corporate Tax Rises

Guest essay by Eric Worrall

h/t Dr. Willie Soon; Has the phone stopped ringing in the White House? President Biden appears to be struggling with lukewarm support for dumping more trillions of freshly printed or borrowed money into the economy, to combat climate change.

Help wanted: White House seeks CEO support for climate plan

By Adam Aton, Corbin Hiar | 03/09/2021 12:40 PM EST

Democrats are scrambling to marshal corporate support for their $3.5 trillion reconciliation package as the fossil fuel industry and other business sectors seek to kill the party-line measure filled with climate initiatives.

The oil and gas industry, meanwhile, is spearheading opposition to tax changes that could make drillers pay more. Its American Petroleum Institute lobby group is also pushing back against clean energy tax credits and a clean electricity payment program — the backbone of Democrats’ climate agenda — as well as a new fee on methane.

President Biden’s team is trying to move companies off the sidelines. The administration is asking corporations across sectors to “put their full might behind combating the climate crisis,” a White House spokesperson said.

What I’ve heard from folks on Capitol Hill is that very few companies are really showing up,” said Bill Weihl, the founder and executive director of ClimateVoice, a nonprofit focused on promoting corporate climate advocacy. “And I think that’s a huge problem.”

Amazon has spent over $10.1 million on lobbying in the first half of 2021 — the most of any company, according to data compiled by the transparency group OpenSecrets. Some of that went toward “issues related to sustainability” and “infrastructure and sustainable transportation,” lobbying disclosure filings show.

But Amazon is also a member of the Chamber of Commerce and the Business Roundtable, both of which have come out against the corporate tax increases Democrats are proposing to help pay for the reconciliation bill.

The Chamber will do everything we can to prevent this tax raising, job killing reconciliation bill from becoming law,” Suzanne Clark, the Chamber’s president and CEO, said in a statement last week.

Read more: https://www.eenews.net/articles/help-wanted-white-house-seeks-ceo-support-for-climate-plan/

The answer to why corporate support for Biden’s green agenda is faltering in my opinion should be obvious.

Companies like Amazon and Google are run by people who genuinely believe in the climate crisis, and they desperately want to be key players in what they see as the solution.

But what President Biden is proposing is essentially a total government takeover of the green agenda, if not an outright leap towards the government running the entire economy. Corporations will be expected to pay, but they won’t have any control – it will all be run by the government.

Once the government is running everything, current climate leaders like Amazon, Google, Microsoft and all the rest won’t be important anymore. At best the CEOs who currently see themselves as the leaders of the new green age will be relegated to being cogs in the government machine, subservient bit players in President Biden’s great renewable energy economic transformation.

If Biden had simply proposed tightening up emissions laws to force gasoline vehicles off the road, or giving massive tax credits to companies which install their own green energy systems, Amazon et al would have been right behind them – providing they got a few exemptions where it counted, like maybe retaining access to affordable diesel for Amazon’s long haul road transport.

But being sidelined and eventually forgotten, being thrown in the same discard box as all the corporate climate sinners they have fought so hard to defeat, surely none of them want that.

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