President Barack Obama’s fiscal 2016 budget proposes $7.4 billion to fund clean energy technologies and a $4 billion fund to encourage U.S. states to make faster and deeper cuts to emissions from power plants, officials told Reuters.
Obama’s budget, which will be published later on Monday, also calls for the permanent extension of the Production Tax Credit, used by the wind industry, and the Investment Tax Credit, used by the solar industry, the officials said.
Obama has made fighting climate change a top priority in his final two years in office. The White House sees it as critical to his legacy.
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