CORRECTING and REPLACING Cummins Encourages Congress to Pass Reconciliation Bill to Combat Climate Change and Invest in a Decarbonized Future
October 01 2021 - 8:00AM
Business Wire
Headline of release should read: Cummins Encourages Congress to
Pass Reconciliation Bill to Combat Climate Change and Invest in a
Decarbonized Future (instead of Cummins Encourages Congress to Pass
265800 Bill to Combat Climate Change and Invest in a Decarbonized
Future).
The updated release reads:
CUMMINS ENCOURAGES CONGRESS TO PASS
RECONCILIATION BILL TO COMBAT CLIMATE CHANGE AND INVEST
IN A DECARBONIZED FUTURE
Cummins Inc. (NYSE: CMI) today announced its support for the
climate change provisions of the reconciliation bill and encourages
Congress to pass the legislation. The path to a decarbonized and
sustainable future requires the engagement of everyone –
government, businesses of all sizes, as well as communities and
individuals.
“The decarbonization investments in the reconciliation bill are
critical to accelerating the adoption of innovations that can
reduce emissions across the United States and set us on a path to a
more sustainable future,” said Tom Linebarger, Chairman and CEO,
Cummins Inc.
“Cummins is committing our investment dollars, our global
technical resources and our own future to combat climate change and
reach zero emissions and decarbonization,” added Linebarger.
“Passage of these provisions in the reconciliation bill would make
it clear that the U.S. government is also committed to addressing
this threat to our country and our planet. Our mission of making
people’s lives better by powering a more prosperous world requires
a healthier planet, and government and business must work together
to address the existential threat of climate change.”
Government investment and incentives in new technologies and the
infrastructure necessary to use them are imperative to make the
transitions to clean and renewable energies economically viable.
Forging a path to zero emissions will strengthen American
competitiveness and create good jobs that last while providing
cleaner air for all. Cummins specifically supports provisions in
the bill for clean commercial vehicle deployment, the
infrastructure buildout for battery charging and hydrogen fueling
stations, as well as the decarbonization and modernization of the
nation’s grid.
“Our industries can transition our commercial vehicle fleets to
zero emissions technologies, but without clean electricity, green
hydrogen and low carbon fuels, emissions will just be moved - not
eradicated. We must address emissions holistically and work
collaboratively across all sectors to achieve our goals. The
updates to the energy tax code, including the new clean hydrogen
production tax credit and clean commercial vehicle and
infrastructure tax credits can allow our industry partners to adopt
clean technologies that would otherwise be too costly. This will
enable us to bring new, efficient and clean products to markets
much more rapidly. We are encouraged by discussions of a carbon tax
to embed the true cost of carbon throughout the U.S. economy, and
to make the transitions to clean energies possible.”
Linebarger also commented on tax increases, “Equally as
important is that corporations must be able to continue to be
successful for American working families. The current revenue
raising provisions in the reconciliation bill place a tax burden on
U.S. headquartered companies that will make them uncompetitive and
cost jobs. Our corporations need to be in the best position to
continue to drive job creation, economic growth and recruit top
talent. For U.S. communities to thrive – both large and small – our
companies need to be on equal footing with our global partners and
we have to have tax policies in place that allow for this."
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of
complementary business segments that design, manufacture,
distribute and service a broad portfolio of power solutions. The
company’s products range from diesel, natural gas, electric and
hybrid powertrains and powertrain-related components including
filtration, aftertreatment, turbochargers, fuel systems, controls
systems, air handling systems, automated transmissions, electric
power generation systems, batteries, electrified power systems,
hydrogen generation and fuel cell products. Headquartered in
Columbus, Indiana (U.S.), since its founding in 1919, Cummins
employs approximately 57,825 people committed to powering a more
prosperous world through three global corporate responsibility
priorities critical to healthy communities: education, environment
and equality of opportunity. Cummins serves its customers online,
through a network of company-owned and independent distributor
locations, and through thousands of dealer locations worldwide and
earned about $1.8 billion on sales of $19.8 billion in 2020. See
how Cummins is powering a world that’s always on by accessing news
releases and more information at
https://www.cummins.com/always-on.
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version on businesswire.com: https://www.businesswire.com/news/home/20211001005176/en/
Jon Mills, Cummins Inc. 317-658-4540 Jon.mills@cummins.com
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