General Motors CEO Mary Barra, as well as several other prominent CEOs and labor leaders, will meet with President Biden today to discuss the possible economic impacts of the recent drug, climate, and tax bill.
GM CEO Mary Barra
According to a recent report from Reuters, Mary Barra will be joined by United Auto Workers president Ray Curry, AFL-CIO president Liz Shuler, Kaiser Permanente CEO Greg Adams, and officials from Ameren, Carrier, and Cummins. The meeting follows the July 27th introduction of the $430 billion drug, climate, and tax bill by West Virginia Senator Joe Manchin and Senate Majority Leader Chuck Schumer.
The bill seeks to curb the effects of anthropogenic climate change, reduce drug costs, and raise taxes on corporations. Last week, five former U.S. Treasury secretaries, including four Democrats and one Republican, announced their support for the bill, saying that it would reduce costs for middle-class families and would not increase taxes for those making less than $400,000 annually.
President Biden
Although the bill is a fraction the size of the original multi-trillion dollar proposal, it does not have Republican support. As such, Democrats will seek to pass the bill with a simply majority and reconciliation.
Late last month, Senators Schumer and Manchin reached a deal on a legislative package containing around $369 billion in climate and energy spending that includes additional financial support for customers who purchase an electric vehicle equipped with batteries that contain a certain percentage of material from U.S. free trade partners. The proposal includes $7,500 purchase incentive for qualified EVs, removal of the 200,000 vehicle manufacturer credit cap, and a $4,000 incentive for used EVs.
President Biden drives the GMC Hummer EV
More recently, however, a lobby of domestic and foreign automakers have challenged the new EV tax credit plan on the grounds that it is too restrictive, with EVs that include battery materials sourced from Chinese suppliers excluded from receiving the purchase incentives after 2023.
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Comments
Is this the third installment of the Dumb & Dumber series? I wonder who the director is?
… well both are Presidents, go in vips jet here and there and in limousines… Salaries Very High
Dumb is me… poor compared not affording a B747 Air Force One, neither a Caddy Escalade Armoured.
Sinema,, please kill the inflation machine 🙏🙏🙏🙏🙏
Voters need to wise up and kill this economy crushing agenda going on there. They all need thrown out.
They won’t. I heard that Americans accrued 46 billion in credit card debt in the 2nd quarter alone. Not good.
Shame the bill contains allocation for oil and gas. Should be zero.
Obviously Charlie is a leftist! Zero? Funny promoting this inflation bill yet China today announced they have suspended all climate talks with the US cause of the political stance by Pelosi! Smart people know what this bill will do but the leftists are blind.
Drug ???
Reading some of the “Experts” reasoning behind how this will save the middle class money is a bad sitcom. Save $1800 over time on average by way of Government Rebates for buying an EV, replacing any Natural Gas appliances with high efficiency electric ones, and changing to Heat Pumps with electric heat back up. So spend $50 – $60 K to save $1800.
Only Political “Experts” can make this math work as a “benefit / Savings”.
Here we go again, she’s getting another load of BS! She should be listening to her customers instead of Brandon.
Come on Mary, how much farther can you get your head up Biden’s behind?
Every time Brandon speaks DUMB falls out of his mouth! POS🤬
Sad that Joe will hand out taxpayer money to GM. Ironically Mary will surely offshore more good jobs and ‘create’ new lower paying jobs for these same taxpayers.
GM loves socialism as they get money and loves capitalism when they keep all the profits.
Corporate subsidies without strings must stop.
Joe has a thing for brunettes but he married a blonde (maybe?).
That blonde is Jill…oops, sorry, Dr. Jill!
“saying that it would reduce costs for middle-class families and would not increase taxes for those making less than $400,000 annually”
okay certain Prescriptions would be cheaper, There’s your money savings, “your” tax won’t increase JUST CORPORATE TAX.
let’s imagine you are a corporation. You do your due diligence, determine at what price your product will allow you to pay salaries, production costs and taxes and still profit on your product. Then your tax goes up, do you eat the loss or raise your product price to the consumer? Corporations will not pay the price. The lower and middle class will pay the price, if you are making over 400K you may be paying more in tax and higher prices but you won’t feel the pain, am I wrong?
BINGO!
They should all tell Biden to go fish. The Bill will not help the average citizen and will likely raise taxes and inflation. Let’s see how much intestinal fortitude this bunch has.
Yea,like any of us peanuts could actually have a effect on the climate. Who do we think we are?
More wasteful spending that we don’t have for stupid useless things!
Let’s Go Brandon!
I’m joe biden and I forgot this message
This bill is absolute trainwreck from beginning to end