On Wednesday, President Joe Biden met with private sector CEOs, including the head for Indiana-based Cummins to discuss the Build Back better (BBB) agenda. The executives present expressed common concern about climate change and access for child care.
The BBB proposal includes over $500 billion in climate change initiatives, such as tax credits for companies that produce and/or decarbonize clean energy components.
Recent announcements were acknowledged by President Biden: Intel plans to make computer chips in Ohio and General Motors announced it will spend $7B to build electric cars in Michigan.
Cummins CEO Tom Linebarger stated, “climate Change is the existential Crisis of Our Time,” and that the tax credits proposed in BBB were critical to assist companies making necessary changes.
Linebarger stated, “Now, if we wait… not only do we damage the climate but we also make sure that we are not the winners in global competiveness.”
The engine manufacturer hopes to have net zero emission by 2050.
Linebarger answered a question about the child care credit, also part the Build Back Better agenda. He said that he often hears from his employees about the burdens associated with child care and that the issue should be addressed.