Biden offers $2T climate plan
Energy overhaul promotes health of people, economy, he says
WILMINGTON, Del. — Joe Biden released a $2 trillion plan Tuesday aimed at combating climate change and spurring economic growth in part by overhauling America’s energy industry, with a proposal to achieve entirely carbon pollution-free power by 2035.
“These are the most critical investments we can make for the long-term health and vitality of both the American economy and the physical health and safety of the American people,” Biden said.
Biden acknowledged that the economy is in “crisis” because of the COVID-19 pandemic, but said it offers “an incredible opportunity, not just to build back to where we were before, but better, stronger, more resilient and more prepared for the challenges that lie ahead.”
Biden’s plan reflects ideas embraced by some of his more progressive allies during the primary, like
Jay Inslee, whose campaign centered on the issue of climate change. But it doesn’t go as far as the Green New Deal, the sweeping proposal from progressives in Congress that calls for achieving net-zero greenhouse gas emissions across the economy by 2030.
Biden pledges to spend $2 trillion over four years to promote his energy proposals, a significant acceleration of the $1.7 trillion over 10 years he proposed spending in his climate plan during the primary.
The proposal doesn’t include specifics on how it would be paid for. Senior campaign officials who spoke on condition of anonymity said it would require a mix of tax increases on corporations and the wealthy and deficit spending aimed at stimulating the economy.
Trump campaign surrogates on
Tuesday described Biden’s energy plan as a waste of taxpayer money and sought to compare it to the Obama administration’s clean energy loan guarantee program created as part of the 2009 stimulus effort to bolster an economy reeling from the Great Recession.