Nat Keohane on President Biden’s budget request

Statement of Nathaniel Keohane
President, Center for Climate and Energy Solutions (C2ES)

March 9, 2023

On President Joe Biden’s budget request for Fiscal Year 2024:

“As historic as they are, the Inflation Reduction Act and the bipartisan infrastructure bill will still leave us short of America’s commitment to cut emissions 50 to 52 percent below 2005 levels by 2030. We’ve made great strides, and there’s still more to be done. This budget is a welcome recognition the President knows that and intends to do something about it. To more than halve climate pollution by the end of this decade and reach net-zero emissions by 2050, we need to seize every available opportunity to build a zero-carbon electric grid, accelerate technology innovation, spark private investment, and win the global race to lead the clean energy economy.

“The private sector understands the importance of not letting up. That’s why dozens of companies worked with C2ES to identify a comprehensive policy agenda to drive low-carbon investment, support U.S. competitiveness and communities, and cut emissions across the entire economy. The President’s budget is well aligned with those climate and economic priorities, particularly through investments in RDD&D and industrial decarbonization. What the President lays out today is an encouraging sign, and we look forward to seeing more details in the coming weeks. We urge Congress to follow through on the administration’s request as it develops its own budget in the coming months.”

C2ES last week released a company-informed climate policy agenda for the Congress and Administration. Read: Reaching for 2030: Climate and Clean Energy Policy Priorities.