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Biden’s Fiscal Year 2022 Budget Makes Significant Energy Transition Investments

Bidens-Fiscal-Year-2022-Budget-Makes-Significant-Energy-Transition-Investments

Today, the U.S. Administration submitted to Congress President Biden’s budget for the fiscal year 2022. Accordingly, the Department of the interior’s 2022 budget proposals totals $17.6 billion and will mainly look to create good-paying jobs while helping the country address the climate crisis.

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Indeed, next year’s budget represents an increase of $2.5 billion, or 17 percent, from the 2021 enacted level. Moreover, the U.S. administration is looking to make historic investments that will help the country lay the foundation for shared growth and prosperity for a clean energy future.

Reception and the objectives of the budget

In this sense, Secretary Deb Haaland said, “The Interior Department plays an important role in the President’s plan to reinvest in the American people. From bolstering climate resiliency and increasing renewable energy to supporting Tribal nations and advancing environmental justice; President Biden’s budget will make much-needed investments in communities and projects that will advance our vision for a robust and equitable clean energy future.”

Accordingly, the 2022 budget proposal includes two historic plans: the American Jobs Plan and the American Families Plan. Moreover, the budget reinvests in education, research, public health, and other foundations.

Primarily, the Interior Department’s Budget would address Climate Challenges and Build Climate Resiliency; Strengthen Tribal Nations, and Create Jobs to Meet Environmental and Energy Challenges.  

Climate Resiliency, Tribal Nations Empowerment, and More Energy-Jobs

Related to the first element, the proposal includes more than $1.9 billion in new climate-related investments to conserve and adaptively manage natural resources. These investments will also serve to increase understanding of how natural resources are changing and what that means.

Moreover, the proposal includes funding to help advance the America the Beautiful initiative, which consists of conserving 30 percent of U.S. lands and waters by 2030.

Regarding the aim to strengthen tribal nations, the administration’s proposal includes $4.2 billion across all Indian Affairs programs. Particularly, this represents an increase of $727.8 million from the 2021 enacted level. Accordingly, these investments will support a new Indian Land Consolidation Program.

Finally, the administration will implement the American Jobs Plan, including new investments to create good-paying jobs. Also, to rebuild the country’s infrastructure, and address the climate crisis. Thus, the proposal includes an increase of $300 million to support employment plugging orphan oil and gas wells. Also, to cleaning up abandoned mines and decommissioning offshore oil and gas infrastructure.

As part of this proposal, the budget includes $169 million for a new Energy Community Revitalization Program. Particularly, this initiative will help accelerate remediation and reclamation work on Interior-managed lands

The budget proposal also contains $86 million for the Civilian Climate Corps; which will put a new generation of Americans to work conserving and restoring public lands and waters. Finally, the budget includes $249 million in funding to increase renewable energy production on public lands and offshore waters.

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