Joe Biden, who will square off with President Trump in the November election, released his $2 trillion tax plan yesterday to increase clean energy and boost job growth.
According to Biden’s campaign, the plan will “put the United States on an irreversible path to achieve net-zero emissions, economy-wide, by no later than 2050.”
The Plan and The Energy Sector
Alfredo Ortiz, the President of the Job Creators Network says it will kill jobs in the energy sector. It will also “push America towards a socialist dystopia.”
“Biden’s new energy plan would kill jobs in the energy sector and would do so while costing taxpayers $2 trillion to push America towards a socialist dystopia. We need to empower American industry, not uproot it. Biden’s plan would be a disaster for the economy, for workers, and for all Americans who rely on affordable energy.”
Ortiz added that Biden’s energy plan “is the last thing America needs as the economy recovers from the pandemic. President Trump’s pro-growth policies positioned the economy to be strong and resilient. With this, we’re seeing the results right now in the ‘V-shaped’ recovery the President predicted.”
“Biden himself has flip-flopped on energy policies over the years,” says Ortiz. “But it’s clear his allegiance is now with Bernie Sanders, AOC, and the rest of the far-left,” he continues.
Employment and Investments
Under Biden’s tax plan, “millions” of $15 an hour union jobs would be created as the U.S. upgrades its infrastructure. Workers will also find jobs as the country rebuilds roads and bridges. The same goes when the number of clean energy projects increases, as well.
“Even if we weren’t facing a pandemic and an economic crisis, we should be making these investments anyway,” said Biden, adding that the investments were “critical” for the economy and public health.
Living up to his promise to raise taxes, that’s exactly how Biden intends on paying for these projects. His campaign said the money would come from “tax increases on corporations and the wealthy and stimulus spending.”
While Biden’s proposal covered a wide range of energy sources, it avoided any discussion of fracking. The presidential nominee hasn’t disclosed if he intends to ban hydraulic fracturing or fracking. Additionally, during the primary, he called for limited restrictions on the practice for extracting natural gas.
Dodging the fracking question makes sense for Biden, as it’s a major industry in Pennsylvania, a critical swing state in the upcoming election.
When asked about Biden’s tax plan, the Trump campaign said it will be bad for blue collar union workers. “Union jobs related to oil, natural gas, fracking, and energy infrastructure will be on the chopping block in Joe Biden’s America.”
Hogan Gidley, the campaign’s national press secretary added, “His plan is more like a socialist manifesto that promises to massively raise taxes, eliminate jobs in the coal, oil or natural gas industries, and crush the middle class. He’s pushing extreme policies that would smother the economy just when it’s showing signs of roaring back.”