On Tuesday, the former vice president released his long-awaited climate change plan. Biden’s proposal, heavily influenced by the recommendations of a unity task force set up earlier this year by the presumptive nominee and his vanquished primary rival, Sen. Bernie Sanders (I-VT), suggests spending $2 trillion over four years to combat climate change.
The price tag is substantially higher than the $1.7 trillion that Biden proposed to spend over ten years on climate issues during the Democrat primary last year. Most of the new spending comes from the ambitious goals laid out in the proposal the former vice president unveiled Tuesday.
For instance, Biden is now proposing to adopt a 100 percent clean-electricity standard by 2035. A similar idea was initially raised by Gov. Jay Inslee (D-WA) last year during his own ill-fated run for the Democrat nomination. If implemented, it would ensure that all electricity produced in the United States would be “carbon-free.” This would likely have a massive impact on the coal and natural gas industries that, according to the Energy Information Association, produce around 63 percent of all electricity in the country.