The White House Sets a Climate Budget of $555 Billion
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.
