President Joe Biden is planning to double down on his climate agenda in his State of the Union address Tuesday night, according to a report from Bloomberg News.
Bloomberg reported Tuesday that Biden is expected to call on Congress to resurrect climate related legislation . Biden’s plan will call on lawmakers to pass a package of tax credits and climate spending, which the administration claims will save the average American family $500 per year in energy costs and help to fight skyrocketing inflation, Bloomberg reported.
The $500 estimate comes from an analysis done by the Rhodium Group, which claims that federal legislation, such as clean energy tax credits and investments in efficiency, combined with federal regulations and state-level policy, would amount to about a $500 annual savings in energy costs for the average household.
Biden is expected to embrace the larger narrative that combating climate change can provide economic benefits for consumers, specifically middle class Americans, Bloomberg’s report added. He plans to argue that his administration has made progress in the fight against climate change, mostly through the passage of the $1.2 trillion Bipartisan Infrastructure Law, which directed funding toward upgrading the nation’s power grid, capping orphan oil wells, and construction of new electric vehicle charging stations.
He also plans to attribute future household energy savings to tax credits for renewable energy and electric vehicles that are included in the Infrastructure Law. More specifically, Biden will tout the $47 billion in funding for “climate resilience” included in the bill, which is being spent on countering extreme weather events. Biden will also push for more federal intervention to reduce inflation, including a plan to lower the costs of ocean shipping, and improving the cost and care provided at nursing homes, Bloomberg reported.
At the same time, Congressional Democrats are pushing their own effort to revitalize the Build Back Better bill. In a joint statement issued Tuesday, the leaders of the Congressional Progressive Caucus, Congressional Black Caucus, Congressional Asian Pacific American Caucus, Congressional Hispanic Caucus, Democratic Women’s Caucus, Congressional LGBTQ+ Equality Caucus, the New Democrat Coalition, and the Sustainable Energy and Environment Coalition called on Congress to put together a spending package that could garner majority support and pass through reconciliation.
“Democrats in Congress and the White House pulled the economy back from the brink by enacting the American Rescue Plan and the Bipartisan Infrastructure Law, but real economic challenges remain for families,” the leaders said. “Congress must act quickly to address these challenges, especially as we continue to face systemic racism’s disparities and inequities, as well as rising prices squeezing working people, and the climate crisis that is escalating every day.”
“It’s not too late to meet this moment,” the Democratic leaders added. “We stand united and ready to work with President Biden and all of our colleagues in the House and Senate to ensure a strong, final version of this bill becomes law as soon as possible.”
Biden’s climate push comes amid mounting calls from Republicans to revitalize American energy production in the midst of the Russian invasion of Ukraine. Oil prices spiked to more that $106 per barrel Tuesday, as the Daily Wire reported, and prices at the gas pump are expected to increase rapidly in the coming weeks as the crisis continues.
Meanwhile, Biden shut down the Keystone XL pipeline on his first day in office, and has halted new oil and gas drilling leases amidst a legal challenge. Republican Senator Josh Hawley and Congresswoman Lauren Boebert issued statements last week calling on the Biden administration to sanction the Russian energy sector and revamp American oil and natural gas production. Those calls have been amplified by fellow Republicans in recent days.