Well-known and progressive Senate Democrats have expanded their climate wish list for the trillion-dollar package that the White House and Democratic leaders want to move through budget adjustments.
News promotion: Senator Chris Van Hollen (D-Md.) Is leading a 10-year fee push of $ 500 billion from a large fossil fuel company to help finance a climate change initiative.
Stay up to date with the latest market trends and economic insights at Axios Markets. Subscribe for free
Co-sponsor Proposed plan Includes Bernie Sanders, Budget Committee Chairman, and Elizabeth Warren.
The New York Times has more here Plans to evaluate fossil fuel producer and refiner rates based on emissions from 2000 to 2019.
What we don’t know: Whether the plan is likely to proceed. Senator Chuck Schumer, the leader of the Senate majority, declined to comment.
Van Hollen said at a news conference that supporters were in contact with Schumer’s team.
Maryland Senator described it as something in the menu of options to help finance a settlement package that has several climate initiatives.
conspiracy: Van Hollen also said he would sit down with Senator Joe Manchin (DW.Va.) To discuss ideas. Manchin is one of the most conservative and fossil fuel-backed Democrats in the Chamber of Commerce, and he is likely to reject it, according to a note from research firm ClearView Energy Partners.
However, the construction of the plan could limit the benefits of fossil fuels operating in his state, especially the impact on coal producers.
This is due to the emissions standards of companies facing financial difficulties and fees and exemptions.
Big picture: According to ClearView’s memo, the plan is long-term, but “the domestic climate change debate may go beyond market-based past modality and go deeper into command-oriented terrain. Another sign of “.
Learn more about Axios: Sign up to get the latest market trends in Axios Markets. Subscribe for free