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Governors' Wind Energy Coalition

November 15, 2021

Top Story

Biden’s reliance on I.R.S. enforcement to pay for $1.85 trillion bill hits a snag.

By Alan Rappeport, New York Times  •    •  Posted 2021-11-15 15:19:31

President Biden’s pledge to fully pay for his $1.85 trillion social policy and climate spending package depends in large part on having a beefed-up Internal Revenue Service crack down on tax evaders, which the White House says will raise hundreds of billions of dollars in revenue. But the director of the nonpartisan Congressional Budget Office said on Monday that the I.R.S. proposal would yield far less than what the White House was counting on to help pay for its bill — about $120 billion over a decade versus the $400 billion that the administration is counting on. [ read more … ]

Climate

Democrats return from Glasgow bullish about climate action

By Nick Sobczyk, E&E News  •    •  Posted 2021-11-15 15:20:38

Democrats emerged from United Nations climate talks in Glasgow, Scotland, bubbling with optimism about their prospects to deliver legislation to slash greenhouse gas emissions, but significant hurdles remain for Congress to back up U.S. diplomacy with action. The global community will be watching Congress closely after the talks, known as COP 26, closed this weekend, as Democrats attempt to finalize a social spending package that would be the most ambitious climate bill ever passed in the United States. [ read more … ]

Reconciliation Bill

‘It’s time to vote’: Dems itchy to finish big spending bill

By George Cahlink, E&E News  •    •  Posted 2021-11-15 15:20:59

Congressional Democrats are confronting several obstacles this week to moving a $1.75 trillion climate and social spending package, despite claiming some momentum from the recent passage of a landmark infrastructure package and successful global climate talks. House Democratic leaders said before last week’s recess they hoped to pass the centerpiece of President Biden’s climate agenda when they returned this week. But a push by centrists to get a full accounting of the bill’s cost from the Congressional Budget Office before voting makes the timing of a vote this week on the budget reconciliation bill very uncertain. [ read more … ]

Will Biden’s climate plan survive the budget wonks?

By Adam Aton, E&E News  •    •  Posted 2021-11-15 15:21:12

President Biden is steering his signature climate policy into the Bermuda Triangle of Capitol Hill: the Congressional Budget Office. No stranger to criticism, the CBO has sparked a particularly fierce debate among budget wonks with its climate analysis. Now, the office poses one of the final challenges for Biden’s $1.75 trillion domestic spending plan. At $550 billion, the bill’s biggest pot of money is climate. [ read more … ]

States

Mich. city offers new model for 100% clean power

By Jeffrey Tomich, E&E News  •    •  Posted 2021-11-15 15:19:54

When Ann Arbor, Mich., passed a plan a little over a year ago to make the city carbon-neutral by 2030, it meant pivoting as quickly as possible to clean energy, including across the campus of the University of Michigan. The carbon-neutral goal for the city of 120,000, dubbed A2ZERO, means outpacing Gov. Gretchen Whitmer’s (D) plan for the state of Michigan to achieve the same target in 2050. And it means moving faster than Ann Arbor’s electricity provider, DTE Electric, which also has a 2050 net-zero emissions target. [ read more … ]

Markets

Energy prices are surging. What can Biden do?

By Heather Richards, Carlos Anchondo, E&E News  •    •  Posted 2021-11-15 15:20:13

Experts said Friday that high oil and gas prices are likely here to stay for months, raising the question of what President Biden can do to reduce costs as he faces pressure from both political parties. Post-pandemic oil demand and a tight supply are pushing the price per barrel to new highs, padding oil investors’ pocketbooks after one of the leanest years in decades. A grip on production by OPEC+, a bloc that includes Saudi Arabia, Russia and other nations, and hesitancy by U.S. drillers are helping drive the robust price of crude oil behind the rising cost of gasoline, according to analysts. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.