WASHINGTON (Nexstar) — Democrats say they’re on the brink of passing groundbreaking legislation that will make huge investments in green energy and domestic energy production.
They say it will help lower energy bills for American families. But to do it, they need to lock in the vote of Democrat Kirsten Sinema.
“We’re going to invest $369 billion to address the climate crisis,” President Biden said.
“Senate Democrats are delivering on historic climate change legislation, we’re delivering on lower prices on prescription drugs, we’re delivering on tax fairness,” added Senator Chuck Schumer (D-N.Y.).
Republicans like South Dakota Senator John Thune are highly critical of the package.
“I’m not really sure why the federal government is going to be spending money on electric garbage trucks or how that’s going to reduce inflation,” he said.
But Democrats say fighting climate change is worth the investment.
“This bill will cut our carbon emissions by 40% in just eight years,” said Senator Elizabeth Warren (D-Calif.).
Those greenhouse gases warm the planet and make natural disasters like droughts, wildfires and hurricanes worse.
“The Inflation Reduction Act will help us avoid the cost both in dollars and in lives,” Warren said.
The congressional budget office estimates the bill will pay for itself and reduce the deficit. But Texas Senator John Cornyn has a problem with how the legislation is being presented.
The first thing is it’s misnamed, it’s not an Inflation Reduction Act, at best it stays constant,” he said.
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President Biden said Thursday that savings will be passed on to Americans by bringing down energy costs The legislation also is expected to create good-paying jobs in the green energy sector.