Debt ceiling battle heats up as Republicans challenge Biden's climate plan.

1 min read
Source: The Guardian
Debt ceiling battle heats up as Republicans challenge Biden's climate plan.
Photo: The Guardian
TL;DR Summary

Republicans are using Biden's climate agenda as a bargaining chip over raising the debt ceiling, proposing sweeping cuts to federal spending that would eliminate Biden's student loan forgiveness plan, claw back pandemic relief spending, and repeal most of the new renewable energy tax incentives. The proposal is unlikely to progress through the Democrat-majority Senate and would come at great cost to Republican voters, with the loss of more than 77,000 clean energy jobs across 72 Republican-held districts. The GOP proposal could also hurt the US financial system and delay climate action.

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