Obama proposes $4 billion for states beating climate goals

New York,  Feb. 3 (NsNewsWire) — The Obama administration is proposing a $4 billion fund to reward states that exceed cuts in greenhouse-gas emissions, and wants Congress to back steeper royalty rates for oil, gas and coal extraction from public land.

In a mix of measures likely to be greeted skeptically by the Republican majority in Congress, President Barack Obama’s 2016 budget calls for continued tax breaks for wind and solar energy, investments in Appalachian communities facing a steep drop in coal-industry employment and $1.29 billion in aid to developing nations to help them fight climate change.

“Cutting carbon pollution is essential to reducing the threat of climate change and represents one of the greatest economic opportunities of the 21st century,” according to the budget document released Monday.

Obama has stepped up efforts to combat climate change since his 2012 re-election, with the Environmental Protection Agency moving ahead with the first caps on carbon emissions from power plants. Those rules, set to be finalized this year, have drawn the ire of Republicans such as Senate Majority Leader Mitch McConnell, who say one of their top priorities is blocking those plans.

Source: http://powersource.post-gazette.com/powersource/home-powersource/2015/02/03/Obama-Proposes-4-Billion-for-States-Beating-Climate-Goals/stories/201502030068