Biden Plans $600M in Climate Investments

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Facts

  • Monday was slated by Pres. Biden to announce more than $600M for climate adaption projects as part of his “Investing in America” agenda as part of a visit to California's Bay Area.1
  • Funding will come from the Biden-signed Inflation Reduction Act and the Bipartisan Infrastructure Law and will include $575M to protect coastal areas from extreme weather events.2
  • The plan also includes $67M to modernize California's electric grid to reduce the effects of wildfires and other extreme weather events.3
  • In August, Biden signed the Act — a tax, health, and energy package that invests in low-emission energy sources.4
  • The White House intends to cut US greenhouse gas emissions by a billion metric tons by 2030.5

Sources: 1NBC Bay Area, 2Forbes, 3Reuters, 4New York Times, and 5ABC News.

Narratives

  • Democratic narrative, as provided by Guardian. These newly-announced investments will help the US in its crucial fight against climate change, helping it greatly reduce emissions and stopping the planet from overheating. Best of all, it’s paid for through a series of tax changes that won’t affect ordinary Americans.
  • Republican narrative, as provided by Daily Caller. The Inflation Reduction Act isn’t the panacea the Democrats think it is, especially since they’re lying about how much it will cost. Investments like the ones Biden is announcing — and other parts of the IRA — will actually add hundreds of billions of dollars to the national deficit, crippling the US economy in ways that supposed climate change won’t.

Predictions