Sen. Warren Pushes For AOC-Inspired Costly Plan Of Electric Public Transit Vehicles
During a Congressional hearing Tuesday, Massachusetts Senator Elizabeth Warren believes it is a good start on President Biden’s proposal to invest $174 billion in vehicle electrification.
Sen. Warren boasted that her AOC-inspired plan will result in a $2 trillion tax revenue surplus after spending trillions of taxpayer dollars to fund costly electric-powered public transit vehicles.
“The Build Green Infrastructure and Jobs Act that I introduced with Senator Markey and Representatives Levin and Ocasio-Cortez would invest $500,000,000,000 over 10 years to help us get to all-electric public vehicles and rail,” the senator stated.
“My forthcoming Buy Green Act with Congressman Levin will establish a further one and a half-trillion dollars in federal procurement to purchase American-made clean energy products for federal, state, local use, and for export. President Biden has proposed raising taxes on the wealthy and on giant corporations to pay for these vital investments in our nation’s infrastructure,” Warren proposed.
The senator also wanted to compare a school teacher making an average teaching salary and a CEO making millions of dollars a year who both have the same distance driving to work.
“They use the same number of gallons of gas a year, which one of them pays more as a share of their income when we pay for infrastructure investments by imposing a gasoline tax?” Warren questioned.
Economist Joseph Kile responded, “So, Senator, gasoline taxes tend to be regressive in that they impose a larger burden on, in terms of share of income that goes to pay for those taxes, on people in the lower and middle-income quintiles than they do on the upper-income quintiles.”
“You just said in a fancier way, so the schoolteacher pays more as a share of his or her income than the wealthy person does if you use these user fees. I hope I got that right. Is that right, Dr. Kyle?” Warren asked to confirm.
“Yes. In the scenario you had, that was correct,” Kile answered.
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