House Speaker Kevin McCarthy released a plan to raise the debt ceiling by $1.5 trillion or suspend it until March 31, 2024, whichever occurs first. The proposal includes repealing several green energy tax incentives established under Democrats’ Inflation Reduction Act. It would also enact the GOP’s partisan energy bill that passed the House last month. POLITICO’s Josh Siegel breaks down why the GOP is linking the debt ceiling fight to energy policy and how their plan could lay the groundwork for serious energy negotiations. Plus, President Joe Biden pledged $1 billion to the United Nations’ Green Climate Fund. The move aims to bolster US credibility after former President Donald Trump and congressional Republicans previously zeroed out U.S. contributions for the program.
House Speaker Kevin McCarthy released a plan to raise the debt ceiling by $1.5 trillion or suspend it until March 31, 2024, whichever occurs first. The proposal includes repealing several green energy tax incentives established under Democrats’ Inflation Reduction Act. It would also enact the GOP’s partisan energy bill that passed the House last month. POLITICO’s Josh Siegel breaks down why the GOP is linking the debt ceiling fight to energy policy and how their plan could lay the groundwork for serious energy negotiations. Plus, President Joe Biden pledged $1 billion to the United Nations’ Green Climate Fund. The move aims to bolster US credibility after former President Donald Trump and congressional Republicans previously zeroed out U.S. contributions for the program.
Kelsey Tamborrino is a reporter covering clean energy.
Josh Siegel is an energy reporter for POLITICO.
Nirmal Mulaikal is a POLITICO audio host-producer.
Brook Hayes edited this POLITICO energy podcast.
Jenny Ament is the executive producer of POLITICO’s audio department.