Washington, DC – Foreign Policy for America commends the House on passing the historic Build Back Better Act. This legislation includes the largest ever investment in clean energy innovation and job creation that will benefit communities across the country. It will ensure the U.S. is prepared to lead the world on low-carbon technology development and compete in the 21st century economy. Following the ambitious pledges made at the U.N. Climate Change Conference in Glasgow, it also reinforces the U.S. commitment to tackling climate change at home and abroad, by delivering real-economy emissions reductions during this critical decade for climate action.
The legislation also makes good on an important commitment by President Biden to join dozens of nations in adopting a global minimum corporate tax rate, a concerted global effort to ensure multinational corporations pay their fair share in taxes.
“The Build Back Better Act embodies President Biden’s inaugural promise to lead not merely by the example of our power but by the power of example,” said Foreign Policy for America Senior Director for Policy Ben Weingrod. “It proves the U.S. is prepared to support its words with bold actions and enhances U.S. economic competitiveness. The legislation’s $555 billion investment in clean energy jobs and innovation will ensure American businesses and workers will develop and export the technology that will power the 21st century economy.”
Much more work remains in rebuilding from the COVID-19 pandemic and reorienting our national security strategy to tackle the economic and security challenges of the future. But passage of the Build Back Better Act represents a powerful step forward. Foreign Policy for America applauds Democratic House leadership’s hard work to advance this critical legislation and encourages the U.S. Senate to move swiftly and send it to the president’s desk.