Obama Addresses Climate Change with Proposed 2016 Budget
In an effort to increase energy security and resilience to climate change, President Obama’s fiscal 2016 budget proposes a 7 percent increase in funding for clean energy and a new $4 billion Clean Power State Initiative Fund aimed at encouraging U.S. states to make faster and deeper cuts in power plant emissions.
The proposed $4 billion fund, which would help states pay for infrastructure improvements and renewable and clean-energy initiatives as well as prepare for more extreme weather, signals that the Clean Power Plan’s individual state targets are “minimums, not maximums,” according to U.S. News and World Report.
The proposed fund would be paid for by offsetting reductions from other programs—which congressional Republicans are likely to oppose, reports the Associated Press, given their aversion to the EPA’s climate efforts.
The budget called attention to the costs of delaying carbon-cutting measures, including $300 billion over 10 years for responses to extreme weather events. According to the Obama administration, unabated climate change could cost the United States $120 billion a year.
“The failure to invest in climate solutions and climate preparedness does not just fly in the face of the overwhelming judgment of science—it is fiscally unwise,” states —> Read More Here