After Joe Manchin tanked a major clean energy plan, Biden will reportedly unveil a massive $500 billion effort to fight the climate crisis
- Date: 27-Oct-2021
- Source: Business Insider
- Sector:Oil & Gas
- Country:Middle East
After Joe Manchin tanked a major clean energy plan, Biden will reportedly unveil a massive $500 billion effort to fight the climate crisis
Although Democrats are working toward a slimmed-down framework for their social spending bill, a priority many of them had from the start — significant investments in combatting the climate crisis — looks like it might make the cut. Sources familiar with the matter Axios on Tuesday that the climate portion of Democrats' social-sending bill is "mostly settled" and will have a pricetag of $500-555 billion, which isn't too far off the $600 billion proposal Democrats first proposed under their initial $3.5 trillion package. President Joe Biden had previously that the bill would not meet the urgency of the climate crisis after West Virginia Sen. Joe Manchin — a centrist Democratic holdout on the bill — opposed the inclusion of the Clean Electricity Performance Program (CEPP), which would have allowed for Biden to reach his goal to cut carbon emissions in half by 2030. "This will be, just as a matter of fact, the biggest climate bill in human history," Hawaii Sen. Brian Schatz told Axios. "At least a half a trillion dollars. That's a pretty good story to tell at the Conference of Parties," he added, referring to the United Nations (UN) climate summit in Glasgow next week. Biden, too,