Joe Biden’s $5 trillion climate plan: Net zero emissions by 2050Democratic presidential candidate Joe Biden is pitching a $5 trillion-plus climate proposal that he says would lead the U.S. to net zero emission of carbon pollution by 2050.
Biden’s plan calls for $1.7 trillion in federal spending over 10 years, with the rest of the investments coming from the private sector. Biden proposes covering the taxpayer costs by repealing the corporate tax cuts that President Donald Trump signed in 2017, while eliminating existing subsidies to the fossil fuel industry.
“Science tells us that how we act or fail to act in the next 12 years will determine the very livability of our planet,” Biden said in a statement ahead of the plan’s unveiling Tuesday.
“That’s why I’m calling for a clean energy revolution to confront this crisis and do what America does best — solve big problems with big ideas.”
Biden also pitches expanded tax credits for purchases of electric vehicles, along with 500,000 more public charging stations nationwide by the end of 2030.On the international front, Biden calls out China as the world’s biggest coal polluter and says he’d make all future bilateral deals with Beijing contingent on carbon reductions.
Biden also urges an international alliance that would help other nations afford low-carbon development and pitches a global moratorium on offshore drilling in the Arctic.
www.marketwatch.com/story/joe-bidens-5-trillion-climate-plan-net-zero-emissions-by-2050-2019-06-04?mod=mw_theo_homepage
