Biden gambles on market momentum to override Republican opposition to bold climate goal

Biden gambles on market momentum to override Republican opposition to bold climate goal


Republicans warned that President Joe Biden’s plan to cut U.S. carbon emissions by more than 50% would destroy jobs and hand an economic advantage to competitors, including China and Russia.

Biden unveiled the pledge as he convened a climate summit of world leaders.

Campaigners welcomed the move, but opposition from Republicans in Congress will raise questions about how the Biden administration can turn a pledge into progress if it struggles to enact legislation.

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“President Biden is unilaterally committing America to a drastic and damaging emissions pledge,” said Sen. John Barrasso, the ranking member of the Senate energy committee.

“As the president sets punishing targets for the country, America’s adversaries like China and Russia continue to increase emissions at will. The last thing the economy needs is higher energy prices and fewer jobs, but that’s exactly what we’re going to get,” the Wyoming Republican said.

BIDEN PROMISES TO DOUBLE MONEY FOR DEVELOPING COUNTRIES TO CURB CLIMATE CHANGE

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