ENVIRONMENT
President Clinton announced his proposals for the 2000 budget to address the threat of global warming. These proposals include sharp increases in climate-change related spending and tax breaks to reduce greenhouse gas emissions. The centrepiece of the proposals is a plan to create a $200 million ‘clean air partnership fund’ that is intended to generate more funds from private and state sources. These funds will be used to reduce the production of CO2 from burning fossil fuels.
The administration is also proposing to give $105 million for research into how agriculture and forests can offset greenhouse gas emissions by absorbing CO2.
The climate package includes the following:
$1.4 billion for R&D into more energy efficient technologies and renewable energy programmes, a 34 per cent increase in spending.
Tax credits for energy-efficient machines and homes.
$122 million to spur technology for cleaner coal-fired plants.
A similar package was proposed last year, but was stalled in Congress by Republican critics who believe that the US economy would be damaged by meeting Kyoto emission targets.