"Passing legislation would help Biden make good on his pledge to cut U.S. planet-warming emissions 50 to 52 percent below 2005 levels this decade."
"The White House has told allies in Congress that climate change programs in Democrats' spending bill will range between $500 billion and $555 billion, according to four sources familiar with the negotiations.
While the package will exclude Democrats' proposed system of payments and penalties to push power companies to increase renewable energy, the plan being developed will allow President Joe Biden to head to the global climate talks next week in Glasgow, Scotland with a framework for the largest-ever U.S. investment in fighting climate change.
"We continue to engage with Congress on this incredibly important topic and see the ball move forward. We feel that the conversations have been accelerating in the right direction," a senior administration official said in a Tuesday call with reporters that did not discuss the topline climate figures.
Passing legislation would help Biden make good on his pledge to cut U.S. planet-warming emissions 50 to 52 percent below 2005 levels this decade. While the climate total is less than the $600 billion in Democrats' original $3.5 trillion plan, it comes at a crucial moment for Biden, who is eager to demonstrate U.S. leadership on climate change."
Zack Colman and Laura Barrón-López report for Politico October 26, 2021.
SEE ALSO:
"Biden Plan Expected To Include At Least $500B For Climate" (Axios)
"Climate Spending In Reconciliation Could Near $600B" (E&E News)
"Democrats Unveil Billionaires’ Tax As Biden Plan Takes Shape" (AP)
"Congress Eyes $235B In Clean Energy Subsidies. Here They Are" (E&E News)
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