Or to pave the way for re-election, Biden will announce a $600 million climate investment plan for the United States | Biden | Investment
Climate change has always been a key issue in American society, and this is also true for the incumbent US President Biden and the Democratic Party behind him who are seeking re-election. On June 18th local time, a White House official who declined to be named stated that Biden would announce new climate investments during his trip to California. This move may further pave the way for its election campaign next year.
According to Reuters on June 18th, the above-mentioned officials stated on the same day that US President Biden will visit Palo Alto, California on the 19th and announce a plan worth over $600 million to help address potential climate change risks along the US coast.
The official also stated that these investments will be funded by Biden's Climate and Infrastructure Act and will include a $575 million project to address natural disasters such as rising sea levels, storm surges, and tidal hurricanes. The investment will also include investing approximately $67 million in modernizing California's power grid to reduce the impact of wildfires and extreme weather events.
According to reports, Biden signed a $430 billion bill in August 2022, which includes reducing inflation in the United States, easing greenhouse gas emissions, and lowering drug prices. The bill was once touted as the largest comprehensive climate plan in American history.
Biden's trip to California will also attempt to raise campaign funds from the technology and climate donor camp, which will affect his re-election campaign in 2024. The estimated size of this campaign funds will exceed $1 billion.