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December 11, 2020

For Biden’s Economic Team, an Early Focus on Climate

Nicholas Institute for Environmental Policy Solutions

President-elect Joe Biden's economic team is preparing to weave efforts to reduce greenhouse gas emissions and accelerate clean energy production into the economic stimulus legislation that it is crafting, The New York Times reported. Climate is also expected to play a heavy role in a broader infrastructure initiative and to influence his economic approach more broadly.

Extending and expanding tax credits for wind and solar power is one priority area, but moving to allow the Department of Energy to fund “green” banks to support clean-energy infrastructure is likely also on the table, The Times reported. Officials at the U.S. Chamber of Commerce urged Biden and Congress to include clean energy components in an infrastructure package in a news briefing earlier this year.

“That could be a big piece in the stimulus negotiations,” said Tim Profeta, Nicholas Institute director and co-author of a set of recommendations released recently as part of the Climate 21 Project.

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