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News Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
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CrimsonPhantom Offline
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Post: #41
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
Quote:President Joe Biden’s infrastructure proposal will ramp up the Internal Revenue Service (IRS) activities on business, where each business may be audited like “A decade ago… annually by the IRS” so they “pay their fair share.”

According to the proposal, the “IRS lacks the capacity to scrutinize… tax maneuvers: A decade ago, essentially all large corporations were audited annually by the IRS; today, audit rates are less than 50 percent.”

“This plan will reverse these trends, and make sure that the Internal Revenue Service has the resources it needs to effectively enforce the tax laws against corporations,” the plan reads before continuing, “This will be paired with a broader enforcement initiative to be announced in the coming weeks that will address tax evasion among corporations and high-income Americans.”

“All of these measures will make it much harder for the largest corporations to avoid or evade taxes by eliminating parts of the tax code that are too easily abused,” it continues. “This will be paired with an investment in enforcement to make sure corporations pay their fair share.”

The strategy to beef up the IRS joins Biden’s pledge to raise the corporate tax rate to 28 percent from 21 percent, higher than Communist China’s corporate tax rate at 25 percent, reducing the attraction of businesses to operate in America.

Whatever the consequence, Biden has also proposed a global minimum tax to ensure multinational corporations do not base themselves in a country that has a tax rate higher than a global minimum of 21 percent. “The President’s tax reform proposal will increase the minimum tax on U.S. corporations to 21 percent and calculate it on a country-by-country basis so it hits profits in tax havens,” the plan says.

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04-01-2021 04:38 PM
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CrimsonPhantom Offline
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Post: #42
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
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04-01-2021 06:49 PM
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Fo Shizzle Offline
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Post: #43
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
When all the damn potholes are filled and we can cruise along unfettered on our highways...then you can figure out other stuff to spend money on. Daily travel impacts more Americans than anything. Im perfectly fine with spending money on the road infrastructures.
04-01-2021 06:59 PM
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vandiver49 Offline
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Post: #44
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-01-2021 10:26 AM)Redwingtom Wrote:  
(04-01-2021 09:24 AM)vandiver49 Wrote:  ...most of it is filled with High Speed Rail and transit dreams. Just projects that will enable consultants to soak up design and planning fees without a shovel of dirt ever being turned over.

Link?

This from CNN says $621B goes to transportation including roads, bridges, public transit, rail, ports, waterways, airports and electric vehicles in service of improving air quality, reducing congestion and limiting greenhouse gas emissions.

Further, it only mentions $80b going to fix service backlogs on Amtrak's higher speed rail line.
Here's what's in Biden's infrastructure proposal
The link is the bill itself

$115 billion on accelerated road and bridge repairs
$20 billion for “vision zero” and other anti-auto programs
$85 billion for mass transit
$80 billion for Amtrak’s backlog and expansion of Amtrak service
$174 billion supporting electric vehicle manufacturers
$25 billion on airports
$17 billion on inland waterways
$104 billion undesignated by the bill

I would argue that the lines 2,3 and 4 fit my description. The $80B to Amtrak will mostly be used on building new Hudson River Tunnels.
04-02-2021 09:37 AM
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Redwingtom Offline
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Post: #45
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 09:37 AM)vandiver49 Wrote:  
(04-01-2021 10:26 AM)Redwingtom Wrote:  
(04-01-2021 09:24 AM)vandiver49 Wrote:  ...most of it is filled with High Speed Rail and transit dreams. Just projects that will enable consultants to soak up design and planning fees without a shovel of dirt ever being turned over.

Link?

This from CNN says $621B goes to transportation including roads, bridges, public transit, rail, ports, waterways, airports and electric vehicles in service of improving air quality, reducing congestion and limiting greenhouse gas emissions.

Further, it only mentions $80b going to fix service backlogs on Amtrak's higher speed rail line.
Here's what's in Biden's infrastructure proposal
The link is the bill itself

$115 billion on accelerated road and bridge repairs
$20 billion for “vision zero” and other anti-auto programs
$85 billion for mass transit
$80 billion for Amtrak’s backlog and expansion of Amtrak service
$174 billion supporting electric vehicle manufacturers
$25 billion on airports
$17 billion on inland waterways
$104 billion undesignated by the bill

I would argue that the lines 2,3 and 4 fit my description. The $80B to Amtrak will mostly be used on building new Hudson River Tunnels.

Sure, but that's 'only' $185B. That's far from "most of it is filled with..." as you said.
04-02-2021 09:40 AM
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Redwingtom Offline
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Post: #46
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-01-2021 06:59 PM)Fo Shizzle Wrote:  When all the damn potholes are filled and we can cruise along unfettered on our highways...then you can figure out other stuff to spend money on. Daily travel impacts more Americans than anything. Im perfectly fine with spending money on the road infrastructures.

Don't know what happens in your area, but around here all they do is throw some asphalt in the holes....and in a couple weeks, the damned hole is right back...along with tar and stones being thrown on your car as they never pack that **** down. 03-wink
(This post was last modified: 04-02-2021 09:43 AM by Redwingtom.)
04-02-2021 09:42 AM
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vandiver49 Offline
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Post: #47
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-01-2021 10:16 AM)Redwingtom Wrote:  
(03-30-2021 02:58 PM)bearcat65 Wrote:  Highway improvement yes but high speed rail has for the most part failed whenever attempted in the US.

Where in the US do we currently have high speed rail? The only thing that comes close is Amtrak's Acela Express that covers like 1 route through several cities, but that's only considered higher-speed rail and only covers a few areas with that higher speed.

Hard to say it has failed when we've never actually built it. 03-wink

A nationwide HSR system would be pointless as it would be slower than flying and magnitudes more expensive. Just look at the California High Speed Rail construction and its inflated costs.
04-02-2021 10:17 AM
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Redwingtom Offline
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Post: #48
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 10:17 AM)vandiver49 Wrote:  
(04-01-2021 10:16 AM)Redwingtom Wrote:  
(03-30-2021 02:58 PM)bearcat65 Wrote:  Highway improvement yes but high speed rail has for the most part failed whenever attempted in the US.

Where in the US do we currently have high speed rail? The only thing that comes close is Amtrak's Acela Express that covers like 1 route through several cities, but that's only considered higher-speed rail and only covers a few areas with that higher speed.

Hard to say it has failed when we've never actually built it. 03-wink

A nationwide HSR system would be pointless as it would be slower than flying and magnitudes more expensive. Just look at the California High Speed Rail construction and its inflated costs.

While all that may be true, my only point is that we don't have any high-speed rail nor have we really tried to implement one outside of CA and the higher speed rail from Amtrak on the East coast. So you really can't say we've tried it and its failed.
04-02-2021 10:38 AM
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Owl 69/70/75 Offline
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Post: #49
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-01-2021 10:16 AM)Redwingtom Wrote:  
(03-30-2021 02:58 PM)bearcat65 Wrote:  Highway improvement yes but high speed rail has for the most part failed whenever attempted in the US.
Where in the US do we currently have high speed rail? The only thing that comes close is Amtrak's Acela Express that covers like 1 route through several cities, but that's only considered higher-speed rail and only covers a few areas with that higher speed.
Hard to say it has failed when we've never actually built it. 03-wink

"HSR" in the USA has largely failed because everywhere tried it has become a typical bloated government bureaucracy with a buttload of money going to high-priced consultants to design some new technology instead of borrowing what works elsewhere and a ton of government bureaucrats sitting on their butts instead of laying track and buying rolling stock.

Comparing what passes for "high speed rail" in the USA with something like the Eurostar or Shinkansen in Japan is like comparing hitchhiking to space travel. I read something the other day that said that for the year 2020 the total late time for all Shinkansens nationally was 11 minutes. If the Japanese can do it, we can do it.

If you can leave New York at 8 am, be in Chicago for a lunch meeting, and back in New York by 7 pm, and you can use your phone and the Internet the whole time you are traveling (and all of that with total reliability) that strikes me as a more attractive way for a lot of business travel than flying.
(This post was last modified: 04-02-2021 10:49 AM by Owl 69/70/75.)
04-02-2021 10:48 AM
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No2rdame Offline
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Post: #50
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(03-30-2021 02:20 PM)THE NC Herd Fan Wrote:  What's scary Obama's 2012 Shovel ready $1trillion got very little to show for it. Other than $4 Trillion of spending that NEVER goes away what will this infrastructure spend give us?

That's because like Obama, the "shovel ready" jobs were bullsh*t. As far as what this new "infrastructure spend" will give us, it'll give us higher taxes and living expenses, thereby reducing net take home. It'll give us inflation, reducing net take home pay. And it'll saddle our children and grandchildren with even more debt than they already will carry.
04-02-2021 11:59 AM
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Redwingtom Offline
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Post: #51
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 11:59 AM)No2rdame Wrote:  
(03-30-2021 02:20 PM)THE NC Herd Fan Wrote:  What's scary Obama's 2012 Shovel ready $1trillion got very little to show for it. Other than $4 Trillion of spending that NEVER goes away what will this infrastructure spend give us?

That's because like Obama, the "shovel ready" jobs were bullsh*t. As far as what this new "infrastructure spend" will give us, it'll give us higher taxes and living expenses, thereby reducing net take home. It'll give us inflation, reducing net take home pay. And it'll saddle our children and grandchildren with even more debt than they already will carry.

Glad to know that debt matters once again now that trump is out of office! 04-cheers
(This post was last modified: 04-02-2021 12:02 PM by Redwingtom.)
04-02-2021 12:02 PM
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No2rdame Offline
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Post: #52
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 12:02 PM)Redwingtom Wrote:  
(04-02-2021 11:59 AM)No2rdame Wrote:  
(03-30-2021 02:20 PM)THE NC Herd Fan Wrote:  What's scary Obama's 2012 Shovel ready $1trillion got very little to show for it. Other than $4 Trillion of spending that NEVER goes away what will this infrastructure spend give us?

That's because like Obama, the "shovel ready" jobs were bullsh*t. As far as what this new "infrastructure spend" will give us, it'll give us higher taxes and living expenses, thereby reducing net take home. It'll give us inflation, reducing net take home pay. And it'll saddle our children and grandchildren with even more debt than they already will carry.

Glad to know that debt matters once again now that trump is out of office! 04-cheers

How many trillions did Trump dig us into within the first 3 months of his presidency? How much more in taxes did he expect us all to pay for his pet projects? Try again next time, troll.
04-02-2021 12:05 PM
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CrimsonPhantom Offline
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Post: #53
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 12:02 PM)Redwingtom Wrote:  
(04-02-2021 11:59 AM)No2rdame Wrote:  
(03-30-2021 02:20 PM)THE NC Herd Fan Wrote:  What's scary Obama's 2012 Shovel ready $1trillion got very little to show for it. Other than $4 Trillion of spending that NEVER goes away what will this infrastructure spend give us?

That's because like Obama, the "shovel ready" jobs were bullsh*t. As far as what this new "infrastructure spend" will give us, it'll give us higher taxes and living expenses, thereby reducing net take home. It'll give us inflation, reducing net take home pay. And it'll saddle our children and grandchildren with even more debt than they already will carry.

Glad to know that debt matters once again now that trump is out of office! 04-cheers

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04-02-2021 12:26 PM
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Redwingtom Offline
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RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 12:05 PM)No2rdame Wrote:  
(04-02-2021 12:02 PM)Redwingtom Wrote:  
(04-02-2021 11:59 AM)No2rdame Wrote:  
(03-30-2021 02:20 PM)THE NC Herd Fan Wrote:  What's scary Obama's 2012 Shovel ready $1trillion got very little to show for it. Other than $4 Trillion of spending that NEVER goes away what will this infrastructure spend give us?

That's because like Obama, the "shovel ready" jobs were bullsh*t. As far as what this new "infrastructure spend" will give us, it'll give us higher taxes and living expenses, thereby reducing net take home. It'll give us inflation, reducing net take home pay. And it'll saddle our children and grandchildren with even more debt than they already will carry.

Glad to know that debt matters once again now that trump is out of office! 04-cheers

How many trillions did Trump dig us into within the first 3 months of his presidency? How much more in taxes did he expect us all to pay for his pet projects? Try again next time, troll.

And?

Apples and oranges. trump had a good economy handed to him with no pandemic.

And his tax cut that was passed in his first year in office blew a gaping hole in the debt and deficit.

Regardless, if you're going to pretend that somehow republicans have cut spending, just delete your ******* account.
(This post was last modified: 04-02-2021 12:43 PM by Redwingtom.)
04-02-2021 12:42 PM
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Owl 69/70/75 Offline
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Post: #55
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 12:42 PM)Redwingtom Wrote:  And his tax cut that was passed in his first year in office blew a gaping hole in the debt and deficit.

The gaping hole was blown into it by the legacy programs handed to him by Obama, I can provide proof if you like.

The impact of Trump's tax cuts was minor compared to that.
04-02-2021 12:52 PM
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vandiver49 Offline
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RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 10:38 AM)Redwingtom Wrote:  
(04-02-2021 10:17 AM)vandiver49 Wrote:  
(04-01-2021 10:16 AM)Redwingtom Wrote:  
(03-30-2021 02:58 PM)bearcat65 Wrote:  Highway improvement yes but high speed rail has for the most part failed whenever attempted in the US.

Where in the US do we currently have high speed rail? The only thing that comes close is Amtrak's Acela Express that covers like 1 route through several cities, but that's only considered higher-speed rail and only covers a few areas with that higher speed.

Hard to say it has failed when we've never actually built it. 03-wink

A nationwide HSR system would be pointless as it would be slower than flying and magnitudes more expensive. Just look at the California High Speed Rail construction and its inflated costs.

While all that may be true, my only point is that we don't have any high-speed rail nor have we really tried to implement one outside of CA and the higher speed rail from Amtrak on the East coast. So you really can't say we've tried it and its failed.

Understood.

(04-02-2021 10:48 AM)Owl 69/70/75 Wrote:  "HSR" in the USA has largely failed because everywhere tried it has become a typical bloated government bureaucracy with a buttload of money going to high-priced consultants to design some new technology instead of borrowing what works elsewhere and a ton of government bureaucrats sitting on their butts instead of laying track and buying rolling stock.

Comparing what passes for "high speed rail" in the USA with something like the Eurostar or Shinkansen in Japan is like comparing hitchhiking to space travel. I read something the other day that said that for the year 2020 the total late time for all Shinkansens nationally was 11 minutes. If the Japanese can do it, we can do it.

If you can leave New York at 8 am, be in Chicago for a lunch meeting, and back in New York by 7 pm, and you can use your phone and the Internet the whole time you are traveling (and all of that with total reliability) that strikes me as a more attractive way for a lot of business travel than flying.

Even if money were no object, we still couldn't do the trip you have in bold. Because every representative along the proposed route is going to want the train to in their city, slowing down the train. Even if you built express tracks, cities like Harrisburg, Pittsburgh, Columbus and Cleveland and Gary would say they are large enough to warrant an express stop.
04-02-2021 01:23 PM
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Owl 69/70/75 Offline
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RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(04-02-2021 01:23 PM)vandiver49 Wrote:  Even if money were no object, we still couldn't do the trip you have in bold. Because every representative along the proposed route is going to want the train to in their city, slowing down the train. Even if you built express tracks, cities like Harrisburg, Pittsburgh, Columbus and Cleveland and Gary would say they are large enough to warrant an express stop.

Which is exactly why our current sad version of "high speed rail" sucks." It needs to be done by some entity that doesn't have to kiss congress's butts for every nickel.
04-02-2021 01:34 PM
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RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
(03-30-2021 09:44 AM)CrimsonPhantom Wrote:  
Quote:President Joe Biden’s infrastructure plan may include $4 trillion in spending and $3 trillion in increased taxes, according to a report released Monday.

The Washington Post reported that Biden’s infrastructure plan might include $4 trillion in new spending and $3 trillion in tax increases.

Members of the White House Economic Council reportedly remain worried about the increase in spending.

“The officials worried that the large gap between spending and revenue would widen the deficit by such a large degree that it could risk triggering a spike in interest rates, which could in turn cause federal debt payments to skyrocket, said the people familiar with the matter,” the Post’s Jeff Stein wrote.

The infrastructure plan follows as Biden recently signed the Democrats’ partisan $1.9 trillion coronavirus package.

The reported Biden proposal would serve as one of the largest tax hikes in generations. This runs in contrast to President Donald Trump’s administration, which cut taxes with the Tax Cuts and Jobs Act.

Democrats also reportedly disagree over if they should focus on physical infrastructure such as roads and bridges compared to social welfare spending such as child care.

Celinda Lake, a Democrat pollster who worked for Biden’s 2020 campaign, said:

We know that Republicans and particularly blue-collar men really like the physical building kind of infrastructure and see that as leading to good paying jobs for men in particular. And women and the Democratic base really respond to what you might call softer infrastructure — child care; school; caregiving responsibilities — which have come home very vividly during covid. It’ll be a challenge, but they have a major opportunity here to do both in a way that both helps these constituencies and is majorly appealing to them as voters.

Passing another large spending bill remains a daunting task for Democrats that passed their coronavirus package on partisan lines through the House and the Senate.
The Senate remains split at 50-50 and Democrats may have to use budgetary reconciliation to pass the large infrastructure spending package.
This may explain why Senate Majority Leader Chuck Schumer (D-NY) is exploring using reconciliation for additional time to pass another spending bill using only a simple majority. Normally, Congress can only use budgetary reconciliation once per fiscal year.
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.

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After the Left is done with the Economy..... $3 Trillion won't be that much..... Hell $4 Trillion may not buy a loaf of bread when they are through!

That's a tax increase that averages 9,230.77 for every man, woman and child in the United States. Now that should put into perspective the nearly 31 trillion in national debt we now have. Multiply the figure above x 8 per person and you get a rough idea of how really awful all of the deficit spending is. There's no such thing as free money!!!
04-02-2021 01:59 PM
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Post: #59
RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
Psaki Lets the Truth Slip Out About Biden's Infrastructure Bill
https://rumble.com/vf9ovd-psaki-lets-the...p&mc=56yab
04-02-2021 02:56 PM
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RE: Biden* Infrastructure Plan to Spend $4 Trillion, Increase Taxes by $3 Trillion
Quote:President Joe Biden's $2.25 trillion infrastructure plan includes funding to help the Pentagon go green.

The proposed plan targets $180 billion toward emerging technologies, including investments in environmental programs at the Defense Department.

Among the items included was funding for the use of renewable energy instead of fossil fuels for military vehicles, and mandating all non-combat vehicles be electric by 2030.

The Biden administration considers climate change a top priority, and the Pentagon, the world's single largest energy consumer, will play a key role.

"Moving off fossil fuels into renewables will have first just the direct effect of reducing the carbon footprint dramatically," Ray Mabus, a former Navy secretary and climate change advocate, told Politico.

"Where the military goes, the civilian world often follows," he added, noting that electric vehicles "could catalyze an industry that will have those impacts more widely."

The effort to combat climate change must compete with other top Pentagon priorities — modernizing the nuclear triad, developing new technologies (e.g. artificial intelligence, hypersonic weapons) — amid a flat defense budget.

Critics of Biden’s plan told The Washington Free Beacon in November that leaning hard into green policies could harm a national security already facing issues. One example: simulations project U.S. forces losing in the event China invades Taiwan.

Biden's proposed plan also would invest billions into the China-dominated technology of semiconductors, used in advanced military equipment.

Rep. Rob Wittman, R-Va., vice ranking member of the House Armed Services Committee, said the administration should prioritize the current strength of the Defense Department instead of environmental changes.

"We need to get more out of our dollar than the Chinese get out of their yuan or the Russians get out of their ruble," Wittman said. "If we have an astronomical increase in costs, we need to think twice about those efforts. ... I don't think that we should do things that sacrifice our ability to counter threats out there solely at the expense of environmental issues."

Republicans previously attacked the Navy’s first attempt at transitioning to renewable energy — led by Mabus — by incorporating biofuel into the fleet, a plan that raised costs at the expense of readiness.

Defense Secretary Lloyd Austin established a Climate Working Group in March to coordinate the Pentagon response to climate change.

"Climate change presents a growing threat to U.S. national security interests and defense objectives,” Austin wrote. "The department will act immediately to include the security implications of climate change in our risk analyses, strategy development and planning guidance."

The effort to combat climate change must compete with other top Pentagon priorities amid flat defense budgets. Modernizing the nuclear triad, and developing new technologies ranging from artificial intelligence to hypersonic weapons, are other such concerns.

A spokesperson for Sen. Ted Cruz, R-Texas, told Politico climate programs distract from the military's "core mission."

"Sen. Cruz believes the Pentagon's job is to be big enough to deter America’s enemies and adversaries, and to be strong enough to take necessary and successful military action if deterrence fails," Cruz spokesperson Jessica Skaggs said. "Allowing climate alarmists and Green New Deal enthusiasts to undermine or distract from that core mission is the height of irresponsibility and endangers the safety and lives of Americans."

The Defense Department is implementing other changes, too.

Trump-era policies that largely banned transgender people from serving in the military will be replaced with new rules offering them wider access to medical care and assistance with gender transition, defense officials told The Associated Press.

Transgender people who meet military standards will be allowed to enlist and serve openly in their self-identified gender. They will be able to get medically necessary transition-related care authorized by law, said the officials.

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04-02-2021 03:17 PM
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