Trump’s environmental policy is set to cost $2.5trillion over the course of 10 years, according the president’s energy strategy.
It’s part of a strategy to reduce the cost of the United States’ fossil fuel infrastructure, according Trump, who has promised to double the country’s production of natural gas and coal.
Trump’s team also expects that by 2040, the United Nations will be in the process of revamping its Green Climate Fund, a fund designed to encourage other countries to make more clean energy investments.
Trump has previously said he will “make sure that all of the money goes to green energy.”
His team has also proposed raising the nation’s carbon emissions cap from a projected 2.6 trillion metric tons in 2020 to an even higher 2.8 trillion by 2027.
The plan includes $1 trillion in direct investment in renewable energy, $350 billion in tax credits and $1.5 billion in additional funds for projects like solar, wind and hydropower.
Trump also proposes a $1 billion investment in infrastructure and a $4.5 million increase in the nation, or 15% for the federal government, to help offset the cost.
Trump plans to spend an additional $1billion on a solar tax credit program.
The president has previously described his plan as a “great energy plan” that will make the United Kingdom, Germany, France, Canada and other countries competitive.
But as part of his plan, the Trump administration is expected to provide $4 billion to the states to help create clean energy infrastructure.
The money would go toward the construction of new energy efficiency programs and clean power projects.
Trump also wants to help the country achieve more carbon emissions by reducing the number of vehicles on the road, reducing the amount of energy they use and using less electricity from fossil fuels.
The plan also calls for reducing the use of coal and other fossil fuels in the energy sector, which Trump has long advocated.
As part of the plan, Trump is also seeking to eliminate a requirement that energy companies purchase permits to pollute waterways and other public lands, a requirement championed by environmental groups that have said it would reduce the federal’s role in enforcing environmental regulations.
The move was criticized by some Democrats, who have accused Trump of seeking to dismantle the Clean Water Act, a federal law that prohibits polluters from polluting rivers, lakes and streams.
For more on the Trump transition, check out the full POLITICO article.
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