Democratic presidential candidate Beto O'Rourke labeled climate change 'the greatest threat we face' as he called for $5 trillion to be spent over the next decade to neutralize carbon emissions
Still, some environmental and progressive activists have criticized O'Rourke for what they perceive as closeness with the oil and gas industry. O'Rourke has received some criticism from activists for refusing to sign a pledge to reject large contributions from fossil fuel companies, political action committees and executives while Democratic presidential competitors Sens. Elizabeth Warren , Bernie Sanders , Kirsten Gillibrand and South Bend, Ind., Mayor Pete Buttigieg and Washington Gov.
But O'Rourke would pay for some of the $5 trillion spending he envisions by ending favorable tax treatment for fossil fuel companies. He said those "tens of billions of dollars of tax breaks" would comprise a portion of a plan to transform the tax code to "ensure corporations and the wealthiest among us pay their fair share," which he said would generate $1.5 trillion in revenue.
As part of that $1.5 trillion from changes to the tax code — which he said would be his first piece of legislation — O'Rourke suggested $300 billion in tax credits and $300 billion in direct spending could generate $4 trillion of investment. O'Rourke also said he wants to set a trajectory for deploying zero-emissions vehicles, tighten pollution rules for power plants, boost building and appliance efficiency standards and rely on the federal government's size to "decarbonize across all sectors." He also would re-enter the Paris climate agreement, from which President Donald Trump has said he will withdraw.
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