Democratic presidential candidates Joe Biden and Elizabeth Warren on Tuesday each introduced dueling multi-trillion dollar proposals to address climate change.
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Vice President Biden’s plan calls for $1.7 trillion in federal spending along with a push for an additional $3.3 trillion in private investment to overhaul climate policy. In an announcement video from the Biden campaign, the plan will be paid for by removing President Trump’s tax cuts and aims to have net-zero carbon emissions by 2050.
Senator Warren’s proposal, on the other hand, calls for a $2 trillion investment from taxpayers to boost the U.S. clean-energy sector. In a Medium blog post announcing the plan, Warren wrote that the U.S. “should bank on American ingenuity and American workers to lead the global effort to face down this threat.”
Kingsview Asset Management chief investment officer and Fox News contributor Scott Martin said that the U.S. is “already reducing carbon emissions very well as a country without the government’s help as it is,” on FOX Business’ Kennedy on Tuesday.
Martin said that these environmental pushes from high-polling Democrats like Biden and Warren are necessary “to stay relevant amidst a big field.”
“I know they’re towards the top,” he said, “but given there was that big push … with [Rep. Alexandria Ocasio-Cortez’s] Green New Deal, they need to come out with something that is somewhat monumental that at least keeps up with those headlines she made some months ago.”
Martin added that “private enterprise will take care of” climate change initiatives without government intervention.
“If somebody pollutes, if they’re nasty to the environment, the free market takes care of it,” he said. “You take away your business, they go out of business, that’s how you get rid of those bad folks, not with Elizabeth Warren and Joe Biden.”