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A Bill Gates-led energy organization backed by fellow billionaires such as Jeff Bezos, Reid Hoffman and George Soros ramped up its lobbying activity in the months leading up to Senate Majority Leader Chuck Schumer and Sen. Joe Manchin’s surprise climate deal announcement, according to a Fox News Digital review of disclosure forms.
Breakthrough Energy LLC, a company associated with the billionaire-backed Breakthrough Energy coalition, reported dropping $1.43 million into lobbying activity since May 2021 in filings to the Secretary of the Senate reviewed by Fox News Digital.
During the second quarter – when talks reportedly stalled on the bill – Breakthrough Energy LLC upped its lobbying endeavors by pushing $390,000 into its influence campaign, which included President Biden’s Build Back Better Act, the disclosures show. This amount was $100,000 more than the company had spent on lobbying in any previous quarter since last summer.
The Manchin-Schumer deal, known as the Inflation Reduction Act, is a slimmed-down version of Biden’s Build Back Better Act. It will cost an estimated $433 billion, most of which will be invested in climate provisions while increasing tax revenue by an estimated $739 billion.
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Breakthrough Energy, founded by Bill Gates, increased its lobbying expenditures leading up the Schumer-Manchin climate deal.
The bill will require large corporations to pay at least 15% in taxes, projected to raise tax revenue by $313 billion. It will also boost IRS enforcement, estimated to increase tax revenue by another $124 billion, and close the carried interest loophole, which is estimated to raise $14 billion.
Manchin’s blessing of the legislation ended a months-long stalemate on the multitrillion-dollar Build Back Better Act, which Manchin repeatedly blasted as exorbitant and inflationary.
While Breakthrough Energy LLC upped its lobbying operations, Gates was one of many individuals and groups involved in a Manchin pressure campaign to gain his approval on the legislation, Politico reported.
Breakthrough Energy, meanwhile, also supports Form Energy, an energy-storage company that is eyeing a manufacturing hub in Manchin’s home state of West Virginia.
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Bill Gates personally spoke to Sen. Joe Manchin as part of a reported pressure campaign that pushed the West Virginia senator to support the Inflation Reduction Act.
(The Associated Press)
Form Energy, likewise, was involved with the pressure campaign. Individuals at the group reportedly walked Manchin’s staff through “growth trajectories with and without the proposed suite of legislative incentives,” Politico reported.
“It wasn’t a quid pro quo kind of thing,” the source told Politico, adding that the senator’s staff wanted to “answer nagging questions to get him to yes.”
Breakthrough Energy employees also displayed exuberance following Manchin’s support …….