Chuck Schumer Confirms Big News For Budget Plan

( Senate Majority Leader Chuck Schumer has confirmed that the Democrats’ big spending plan will help meet the party’s climate change initiatives.

This week, Schumer said if the bipartisan infrastructure bill and the Democrats’ tax and spending plans are approved as currently written, they would cut the U.S. greenhouse gas emissions to just enough that they’d meet the Paris Agreement guidelines America agreed to.

In a letter he sent to other members of the Senate, Schumer said his office conducted an analysis on the two proposals. Those studies revealed that the plans, when taken together, would see the United States cut its greenhouse gas emissions to 45% below the levels it had seen in 2005. And that would be accomplished by 2030.

If other policies that are being planned by the Biden administration and local plans at the state level go into effect, too, the United States would be able to cut emissions by 50% by the 2030 deadline the president agreed to back in April.

This push has been headed by only Democrats, and will likely continue to go that way as they prepare to pass the spending bill through budget reconciliation without support from any Republicans. It’s a $3.5 trillion package that includes many progressive initiatives, and will have huge effects on the environment.

In his letter, Schumer said the projections on emissions are based on a review of “best available data from a wide range of organizations that specialize in policy analysis.”

A majority of the changes would come from two sections of the budget reconciliation plan, according to the reviews.

The first is a payment system that the Biden administration says will increase the speed of deployment of zero-carbon power for utilities. That will be combined with fees assessed to companies that don’t hit targets the White House sets for them.

The second is a package of expanded and new tax credits that will be given out for a large variety of projects in the clean energy field.

There will also be consumer incentives for electric vehicles. The analysis says this will result in 16% of the reductions in projected greenhouse gas emissions. In addition, there will be fees on the oil and gas industry, which will cut methane emissions and contribute to 9% of the overall reduction.

It all sounds great in theory, but it’s questionable whether all of this will actually take place, or whether it’s all just talk to get support behind both the infrastructure package and the massive spending bill.

Democrats need to have all of their membership on board for this to go through as is. The House already experienced some bumps in the road with it this week, as a group of moderate Democrats pushed back hard against House Speaker Nancy Pelosi and the progressive wing of the party.

A compromise was struck there to keep things moving forward, but it’ll be interesting to see if liberals can get the full support of membership in the U.S. Senate, where it’s actually more important.