The American Sustainable Business Network (ASBN) announced its strong support for the successful advancement by the House of Representatives of the Build Back Better Act (BBB) towards becoming law.
ASBN thanks the Speaker in particular for her efforts, and especially for her decision to ask Rules to add back in the paid leave program for which ASBN has been advocating a long time, beginning with the FAMILY Act.
This precedent-setting, far-encompassing piece of legislation covers several priority areas for the membership of ASBN, including paid family leave, climate change, and regenerative agriculture. And now the BBB moves to the Senate where ASBN strongly encourages expeditious passage of the legislation.
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“The Build Back Better Act, combined with the just-enacted Infrastructure Investment and Jobs Act, are milestone bills that advance important priorities that will help us to move closer to an economy that works for all and marks the largest investment in history to deal with the climate crisis,” said Jeffrey Hollender, CEO of ASBN.
“We have been strong advocates for BBB and IIJA and the original $3.5 trillion reconciliation measure. We helped during the past few months to recruit hundreds of American businesses to support both the investments and revenue measures, including the corporate tax hike, to push back against detracting efforts by other conservative business organizations,” said Hollender. “And while not all of what we supported nor all of the President’s priorities are included, this is an historic step in the right direction that will pay dividends for generations.”
Among the significant wins for American businesses and our economy once they are passed by the Senate and then signed into law are:
- Agriculture: makes the biggest investment in USDA conservation programs since the Dust Bowl, which will assist farmers and ranchers adopt practices that mitigate climate change and regenerate soil health; allocates billions of dollars in debt relief and other support for underserved and discriminated against farmers and ranchers; expands child nutrition programs to feed millions during the school year and summer; establishes the Rural Partnership Program, the most significant rural development program in 30 years, which will boost local businesses and improve communities and quality of life.
- Climate: expands existing home energy and efficiency tax credits, as well as the creation of a new, electrification-focused rebate program; cuts the cost of installing rooftop solar for a home by around 30 percent; lowers the cost of an electric vehicle that is made in America with American materials and union labor; grows domestic supply chains in solar, wind, and other critical industries in communities on the frontlines of the energy transition; boosts the competitiveness of existing industries, like steel, cement, and aluminum, through grants, loans, tax credits, and procurement to drive capital investment in the decarbonization and revitalization of American manufacturing; funds port electrification; facilitates the deployment of cleaner transit, buses, and trucks; and supports critical community capacity building, including grants to environmental justice communities. In addition, the framework will create a new Civilian Climate Corps – with over 300,000 members that look like America.
- Paid Leave and Education provides four weeks of federal paid family and medical leave; extends the Child Tax Credit; ensures that middle-class families pay no more than 7 percent of their income on child care and will help states expand access to high-quality, affordable child care to about 20 million children per year; offers universal and free preschool for all 3- and 4-year-olds.
The American Sustainable Business Network (ASBN) is a partner to businesses and the investor community to bring collective wisdom and public policy solutions to the systemic issues negatively impacting our society and planet. Founded through the merger of the American Sustainable Business Council (ASBC) and Social Venture Circle (SVC), ASBN rejects short-term thinking narrowly focused on just shareholder value in favor of a capitalism based on creating long-term value and being accountable to all stakeholders: owners, workers, families, community, environment, state, nation, and world. As a multi-issue, membership organization advocating on behalf of every business sector, size, and geography, ASBN and its association members collectively represent over 250,000 businesses across our networks.
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