Washington Post

Biden has massive climate plans. Where will he find the money to fund them?

President-electt Biden said in his position platform that he would marshal $2 trillion over four years for climate related programs/activities. This story will look at where he might get that money. Most likely it will come from a combination of places: infrastructure, science and research, loan guarantees, and tax credits such as the 45Q carbon capture provision that has bipartisan support already. Other possibilities are things like cash for clunker programs to reward people who buy high fuel efficiency vehicles. There might be a cap-and-trade for utilities. And perhaps a cap-and-dividend program that would tax carbon and refund the tax in a way people would be rewarded for reducing carbon dioxide output.


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