[Source/Observer Network, Ruan Jiaqi]

According to a report on Thursday by the Financial Times (FT), which took place at the "Climate and Impact Annual Summit" hosted by FT, John Podesta, former chief advisor for climate and clean energy during the Biden administration, issued a warning regarding the US House of Representatives' tax reform bill passed on the same day, which prematurely terminated the clean energy tax credit program from the Biden era several years ahead. Podesta stated that this move would not only increase consumer costs but also severely damage employment and industrial investment in states governed by Republicans.

P Podesta served as the senior advisor for international climate policy under the Biden administration and was also the core designer of the Inflation Reduction Act (IRA) promoted during Biden's term. This act largely targets and suppresses China's development in green energy transformation.

At this summit, Podesta couldn't help but mention China. He criticized that the tariffs imposed and green subsidies cut by the Trump administration meant that the US government had "handed over victory to China, which is trying to dominate these industries."

According to media reports from Argus Media, Podesta said, "I believe both parties in the US and Europe are in agreement that we need to respond to China's dominant position in the green industry."

He added that allowing China to completely dominate these industries would involve issues of economic security. "But now, I think we have already given up," Podesta said, using a phrase from boxing, "thrown in the towel."

John Podesta (center), who previously served as the chief advisor for climate and clean energy under the Biden administration. Video screenshot.

According to reports by US media such as The New York Times, on May 22nd local time, the Republican-controlled US House of Representatives narrowly passed a large-scale tax and spending bill proposed by the Trump administration, referred to by Trump as the "One Big Beautiful Bill."

This bill extends corporate and individual tax cuts implemented during Trump's first term, while increasing defense spending and providing more funds to combat illegal immigration. Additionally, the bill cancels several green energy incentive policies promoted by Biden and raises the threshold for low-income groups to qualify for health insurance and food assistance programs, aiming to reduce some federal expenditures.

Next, the bill will be submitted to the Senate controlled by Republicans. During the following weeks of debate, lawmakers may further moderate some of the more stringent provisions.

The New York Times reported that although the bill passed in the House of Representatives, there were divisions within the Republican Party over this tax reform bill. Conservative Republicans expressed concerns about cost issues, while moderates hoped for greater tax relief at the state and local levels.

Due to the extremely small margin of votes, this also forced Speaker Johnson of the Republican Party to make several modifications at the last minute to meet the demands of some Republican representatives. Ultimately, all Democratic members and two Republican members voted against it, while one Republican abstained with an "attendance vote."

Podesta pointed out at the summit that the IRA had driven a significant amount of investment into multiple states controlled by Republicans, such as electric vehicle and battery manufacturing projects from Georgia to Michigan.

According to him, since the passage of IRA, the US government has announced up to $862 billion in clean energy investments. Podesta warned that the tax reform bill pushed by the Trump administration would put these investments at risk, exacerbating the uncertainty faced by businesses already caught in tariff dilemmas.

He said, "I believe many congressmen who voted in favor of this bill will have to go back to their constituents and explain, 'Because of my vote, support for clean energy has been abolished, which will destroy your jobs and raise your living costs.' You know, I think they will have a lot of difficult explanations to make."

In Podesta's view, the Trump administration has already "given up" on turning the US into a key center for clean technology and manufacturing.

"While witnessing record-high investments in related industries, tariffs, high debt structures passed by the Senate, and the overturning of IRA are equivalent to ruining a good hand," he said.

According to reports by Argus Media, Podesta believes that the deployment of US clean energy will remain strong in the short term. He said that some governors of red states have raised objections to the Trump administration's reduction of clean energy support, but due to "the government's continued intimidation tactics," companies investing in this field have remained low-profile collectively.

Podesta also mentioned that there are still many activities being carried out at the local level in the US. However, he warned that the Trump administration is attempting to disrupt this.

At the summit, Podesta also issued a warning to the global climate community, urging vigilance: the Trump administration "may resort to any means to undermine" global cooperation in the energy transition sector, such as during G7 summits and the 30th Conference of the Parties (COP30) of the United Nations Framework Convention on Climate Change.

"I hope people can resist them," he said, pointing out that during Trump's first term, the US government was "basically in a passive attitude" on global climate issues.

This article is an exclusive contribution by Observer Network and cannot be reprinted without permission.

Original source: https://www.toutiao.com/article/7507881659635778048/

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