Biden Plans $600M in Climate Investments
The 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.
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.
The Spin
Democratic narrative
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
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.
