Climate change legislation backed by President Joe Biden will likely get a vote in the U.S. House this week. Congressman Fred Upton tells WSJM News he doesn’t think the package comes at the right time.
“It raises taxes, particularly on businesses, it raises some energy costs as well, a lot of new spending,” Upton said.
Upton says the Climate, Health, and Tax Bill narrowly won approval in the Senate, and the same will be true in the House.
“Most economists, I think, don’t believe that we ought to be raising taxes on business, particularly small businesses when we have a recession, but the Democrats have the votes.”
Upton expects the package to be approved in the House by one or two votes. The $370 billion legislation is designed to move the country away from fossil fuels and reduce its carbon dioxide output to 40% below 2005 levels by the end of the decade. It removes caps on electric vehicle tax credits, allows rebates for energy efficient appliances, and creates a new corporate tax, among other things.
