Biden budget calls for spending surge fueled by higher taxes
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Biden to pledge climate aid for developing nations
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Biden to Pledge Climate Aid for Developing Nations Next Week Bloomberg 2 hrs ago © Bloomberg Joe Biden
(Bloomberg) The Biden administration is set to announce next week a plan for distributing billions of dollars more in aid to help developing nations adapt to global warming and embrace clean energy, according to people familiar with the matter.
The Treasury Department will deliver a blueprint for the spending as President Joe Biden prepares to convene the leaders of up to 40 nations in a climate summit Thursday, said the people, who asked for anonymity before a formal announcement.
The finance plan is part of a rush of actions as the administration seeks to prove to the world that the U.S. is back in the global fight against climate change. The president is also preparing to issue an executive order addressing the financial risks posed by climate change and to vow to cut U.S. greenhouse gas emissions in half by the end of the decade from 2005 levels.
Biden to Pledge Climate Aid for Developing Nations Next Week
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