Democratic presidential front-runner Joe Biden is proposing a $5 trillion-plus climate proposal that he says would lead the U.S. to net zero emission of carbon pollution by 2050.
The former vice-president calls for $1.7 trillion in federal spending over 10 years, with the rest of the investments coming from the private sector. Biden proposes covering the taxpayer costs by repealing the corporate tax cuts that President Donald Trump signed in 2017 while eliminating existing subsidies to the fossil fuel industry. "I will lead America and the world, not only to confront the crisis in front us but to seize the opportunity it presents," Biden says in a campaign video posted online.