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The Biden administration released its detailed budget proposal on Friday and it contained $36 billion in total for climate, a huge increase in climate-related spending.
Why This Matters: Biden is making good on campaign promises, and he proposes to pay for it by keeping another promise and ending subsidies to fossil fuels that would have cost billions.
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In 2019, the Environmental and Energy Study Institute (EESI) published a “Fact Sheet” on fossil fuel subsidies and their societal cost. Agencies could start their search there. Many of these subsidies have been around for a century, and often the circumstances relevant at the time subsidies were implemented no longer exist.
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