Private sector CEOs, including the head of Indiana-based Cummins, met with President Joe Biden Wednesday at the White House to discuss the Build Back Better (BBB) agenda. The executives in attendance expressed unified concern over climate change and access to child care.
The BBB proposal includes more than $500 billion in climate change initiatives such as tax credits for businesses that decarbonize and/or produce clean energy components.
President Biden acknowledged recent announcements: Intel plans to build computer chips in Ohio, and General Motors said it will spend $7 billion to build electric vehicles in Michigan.
Cummins CEO Tom Linebarger said "climate change is the existential crisis of our time," and the proposed tax credits in BBB are critical to help companies make needed changes.
"Now if we wait, not only do we harm the climate, but we make sure that we're not the winners in global competitiveness," said Linebarger.
The engine manufacturer aims to have net zero emissions by 2050.
When asked about the child care tax credit, also part of the Build Back Better agenda, Linebarger said he hears from his workers frequently about the burdens of child care and the issue needs to be addressed.