Cummins CEO Tom Linebarger meets with President Biden and other CEOs to support Build Back Better Act; Linebarger says decarbonization investments and tax credit in Act will help accelerate innovations, develop globally competitive hydrogen economy in US

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COLUMBUS, Indiana , January 27, 2022 (press release) –

Today, Cummins Inc. (NYSE: CMI) Chairman and CEO Tom Linebarger was in Washington, D.C. speaking at a White House event focused on the Build Back Better Act. He joined President Joe Biden and several other business CEOs. Linebarger was one of three CEOs to have a speaking role during the formal press portion that took place at 1 p.m.

During his public and private discussions with President Biden and the other business leaders, Linebarger voiced his support for advancing the Build Back Better Act because of its provisions that address climate change, provide tax credits for hydrogen production, and other provisions that drive job creation and enhance American competitiveness.

“I support the climate change provisions in the Build Back Better Act and encourage Congress to pass the legislation,” said Linebarger. “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 Build Back Better Act 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.”

“Our success implementing technologies to reduce emissions in response to the Clean Air Act, is exactly what we need to do now,” Linebarger added. “While it was extremely challenging, Cummins moved first and began investing in the necessary technologies and solutions to meet the regulations and by acting quickly, we established a leadership position and created significant jobs and growth for our company. We now sell these products and technologies that we developed in the United States all over the world. Decarbonization is similar and it’s going to happen globally. The United States has the opportunity to lead if we invest in the technologies and infrastructure now. If we act now, it is certain to create great American jobs and fuel U.S. economic growth, but it’s imperative we do more now, together and faster.”

Linebarger shared that he is encouraged by the tax credits for clean commercial vehicles, and the accompanying charging and fueling infrastructure needed to serve them, the new hydrogen production tax credit, which will support the development of a U.S. hydrogen economy that is globally competitive, and the investments in decarbonizing the grid and stationary power, because he views this as a well-to-wheels challenge.

During the meetings, Linebarger also emphasized that corporations must be able to continue to be successful for American working families with globally competitive tax policies.

“Our corporations need to be in the best position to continue to drive job creation, economic growth and recruit top talent,” Linebarger added. “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.”

Overall, Linebarger added that Cummins supports the Build Back Better Act and believes it’s critical to addressing the existential threat that climate change presents and believes the Build Back Better Act can help drive innovation, reduce reliance on carbon and contribute to American competitiveness and job creation.

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 57,800 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. Learn more at cummins.com.


View source version on businesswire.com: https://www.businesswire.com/news/home/20220126006063/en/

Jon Mills
Director, External Communications
317-658-4540
Jon.mills@cummins.com

Source: Cummins Inc.

Released January 26, 2022

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