Biden Proposes $5 Trillion Climate Plan | NTK Network Biden Proposes $5 Trillion Climate Plan

Biden Proposes $5 Trillion Climate Plan

The proposal would put the U.S. on track for net zero carbon emissions by 2050. But there’s a catch.

By NTK Staff | 06.04.2019 @2:03pm
Biden Proposes $5 Trillion Climate Plan

Former Vice President Joe Biden unveiled a new policy proposal designed to combat climate change on Tuesday. The plan would reportedly cost more than $5 trillion and would put the U.S. on the path to net zero carbon emissions by 2050.

While the overall plan costs in excess of $5 trillion, Biden’s proposal calls for just $1.7 trillion in federal spending. The AP reports that the roughly $4 trillion remained would need to come from “investments” from the private sector.

Rumors swirled for weeks regarding Biden’s climate plan, with one Reuters report calling it a “middle ground” approach. Indeed, Biden’s plan stops short of the aggressive timeline and excessive costs associated with the Green New Deal, the preferred climate plan of the Democrats’ far-left wing.

The report even prompted liberal rising star Rep. Alexandria Ocasio-Cortez (D-NY) to blast Biden on Twitter. “There is no ‘middle ground’ w/climate denial & delay,” she wrote.

Biden responded to the criticism by telling reporters Ocasio-Cortez should review his record. “I’ve never been middle of the road on the environment,” Biden said.

Biden’s plan calls for hiking the average fuel economy for vehicles to 54 miles per gallon, expanded tax credits for electric vehicles, and half a million more public charging stations by 2030.

Biden’s plan hinges on tax breaks, direct spending and federal regulatory power. He’d start with reversing many actions of the Trump administration, which itself sought to roll back a range of Obama administration efforts on energy and the environment. Biden would add an aggressive push on the world stage, using U.S. political and economic muscle to limit emissions from other nations, including China.

He acknowledges how such an overhaul would affect existing U.S. energy market workers, coal miners and power plant operators especially. He calls first for pension and benefit protections for all such workers; and, though short on specifics, he promises an “unprecedented investment” in retraining and redevelopment programs for those communities.

Biden’s plan also focuses on how “pollution disproportionately affects poorer, mostly nonwhite communities.” This, along with Biden’s plan for coal miners, are seen as necessary adjustments to Hillary Clinton’s climate platform from 2016.

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