To my Senate colleagues trying to whittle down the BBB and specifically to weaken the climate provisions. This is the time for leadership. The world needs the US to lead. All eyes are on Congress. If leadership is too hard for you, get out of the way.
1/ When I was in Madrid for COP-25, a European parliamentarian pulled me aside to say "when the US doesn't lead, bad things happen." They need us. We need to go to Glasgow in a position to lead.
2/ Those Europeans knew that Kyoto didn't pass because Bill Clinton couldn't get the US Senate on board.
3/ They also knew that when we negotiated the Paris Accord it was explicitly designed not to require the approval of Parliamentary bodies because they didn't trust the US Senate to act.
4/ They also knew that as soon as Trump got into office he pulled the US out of Paris. A non-binding, insufficient, voluntary framework designed not to solve the climate crisis, but simply to create an international framework that could.
5/ And so now we prepare to go to Glasgow. Back in Paris (thank you @POTUS). But with the world having learned not to trust our lips unless our feet follow. And having learned that the weakest link in global climate negotiations remains the US Senate.
6/ If we pass the BBB before Glasgow, we will be in a position to lead the world, as we uniquely can. As we must. Showing by our actions that we have bound ourselves to the proposition that the laws of physics are non-negotiable.
7/ And if we don't? We will live up to the low expectations we have created. That when faced with global challenges, the Senate can be relied upon to kick the can down the road, hoping that some future Senate can show the leadership today's Senate lacks.
8/ Those are the stakes. Choose to lead, Senators. Choose Science. Choose morals. Choose cheap, clean energy. Choose to put the interest of US consumers above energy producers.
And if you can't, get out of the damned way. The adults have work to do. /fin
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Good news from today's report is the unemployment rate is down to 4.8%. Bad news is workforce participation is still stuck at 61.6%, and still substantially limited by access to childcare. We fix this with the Build Back Better Act, childcare tax credits and 2 yrs of free pre-K
Safe to say you can count @ewarren and I among the 94% who are confident that climate risk is not fully priced into our equity markets. finance.yahoo.com/news/financial…
50% of all the CO2 we have ever emitted AS A SPECIES has been released since 1991. The rate of change to our climate system is accelerating. This past summer of wildfires and flooding is not the new normal. The rate of change is the new normal.
Markets are bad at pricing in non-linear rates of change for the same reason our brains are bad at non-linear rates of change. Say 2, 4, and our brain instinctively expects 6, not 8.
I'm sorry that the DOJ had to do this, but am pleased they are stepping up to quell the hatred, threatened and in some cases actual violence against our educators and students. nytimes.com/2021/10/05/us/…
As I said last Memorial Day, there is a tension at the heart of representative democracy between those who believe government should represent their interests and those who believe it should represent the interests of the majority, even if at odds with their personal views
Our democracy has survived thanks to the heroes who always defended it. But we have always faced internal threats from those who not only insisted their views must prevail, but resorted to violence when public will moved against them.
Case in point. This is a man who's only skill is securing permission slips prior to action. It is the opposite of leadership. washingtonpost.com/politics/pence…
Case in point #2. Nikki Haley, a student of the GOP base who will change her position with every puff of wind rather than articulate a coherent and consistent moral base from which she will lead. wsj.com/articles/nikki…
A brief thread to try and demystify the infrastructure convo in Washington, and hopefully correct some misconceptions:
1/ First, the price is not the story. Our House rules require us to pay for any added costs, which we have done. You may object to the substance or object to the way we paid for them, but there is no basis to say "I like $3.5T better than $1.5 or $10.5" in a vacuum.
2/ Also the cost is over 10 years. $3.5T is $350B/year against a ~$5T/yr federal budget and a $20T/yr economy.
Thank you to my friend @RepAndyLevin for taking the lead on this. When we met with EU climate leaders this week, much of our conversation was about how we ensure that people who worked in the fossil fuel industry aren't stranded in the clean energy transition. A few thoughts:
1/ First, the clean energy transition is coming whether we like it or not. The job of policy is to make sure it comes as quickly as the climate crisis demands. But clean energy is cheap energy, and markets prefer cheap.
2/ Second the fossil sector - like all industries - has always invested in labor productivity that has enhanced their capital recovery even as it reduced their labor input. (See: longwall mining for example.)