When President Obama signed into law a compromise plan to increase the $14.3 trillion U.S. debt ceiling this week, he authorized nearly $2.5 trillion in cuts over the next decade. This massive budget reduction means numerous government agencies and funding programs are the chopping block, but what will it mean for energy and environment funding? energyNOW! interviewed National Journal reporter Coral Davenport to discuss the new reality of environmental and energy-related cuts.
The first round of cuts requires a $917 billion reduction in government spending, and while there are no guarantees on which agencies will be cut, energy and environmental programs will likely be the first to have their funding reduced, especially on issues that have been controversial this year.
"What lawmakers on the hill are already saying, it's very clear, environmental regulations, climate change programs, the kinds of things that have already been hot political targets are clearly going to be subject to the biggest cuts," said Davenport.
The second round of $1.5 trillion reduction in spending, to be decided by Congress this Fall, may result in the repeal of billions in oil and gas tax incentives. With gas prices at extreme highs and oil companies taking in record profits, taxpayers are furious, and the incentives will be among the hottest items going into the debate.
A congressional "super-committee", equally comprised of Democrats and Republicans, will negotiate these cuts, and outcome of which incentives and funding programs are reduced will be decided by which members are appointed to the committee.
"If the Democrats in the committee are of the ilk that have long been crusading for rolling back these oil and tax breaks, they will push as hard as they possibly can," said Davenport. Regardless, they will likely experience strong resistance from Republicans and oil industry lobbyists, as well as the current reluctance to increase taxes.
Subscribe to:
Post Comments
(
Atom
)
Popular Posts Last Week
-
A fascinating and informative description of one man's voyage to clean up the oceans and his discovery that plastic is the heart of the ...
-
Captain Planet, he’s our hero, gonna take pollution down to zero!” If you are over the age of 30, those lyrics may mean nothing to you – but...
-
Dozens of Gulf Coast residents and oil spill clean-up workers showed up at BP's unified command center downtown to call for action Thurs...
-
To mark the second annual Nelson Mandela International Day on Monday 18 July, the United Nations is encouraging people around the globe to ...
-
Croatian authorities have evacuated more than 200 people after fires engulfed pine forests on the Adriatic island of Brac. The state rescue ...
-
The US space agency has sent an unmanned spacecraft on a five-year journey to Jupiter to gather clues on how the solar system was formed. Na...
-
United Nations, New York, 25 July 2011 - Throughout the year, Monique Coleman, UN first Youth Champion, travelled the globe working with loc...
-
Air-conditioned clothes are an unprecedented type of clothing equipped with an air conditioning device that uses the natural physiological c...
-
Using carbon fibers and tailored drivers' suits to make their car even faster than in previous years, a team of Dutch students is prepar...
-
This video features 52 of the most interesting potential transportation solutions for the future. Developed by all sorts of organisations fr...
Popular Posts This Month
-
Some 15 million people are affected by the crisis in the Sahel region, and one million of these are children that could die within months wi...
-
New York City's current and former mayors highlight the revitalization of lower Manhattan in the days leading up to the 10th anniversary...
-
National Wildlife Federation Naturalist David Mizejewski explores the relationship between sea ice and polar bears. As continued global warm...
-
In New Orleans: Recovering From a Post-Katrina 'Brain Drain' : News : Breaking : Climate Central
-
This video features 52 of the most interesting potential transportation solutions for the future. Developed by all sorts of organisations fr...
-
A fascinating and informative description of one man's voyage to clean up the oceans and his discovery that plastic is the heart of the ...
-
Captain Planet, he’s our hero, gonna take pollution down to zero!” If you are over the age of 30, those lyrics may mean nothing to you – but...
-
Dozens of Gulf Coast residents and oil spill clean-up workers showed up at BP's unified command center downtown to call for action Thurs...
-
To mark the second annual Nelson Mandela International Day on Monday 18 July, the United Nations is encouraging people around the globe to ...
Popular Posts All Time
-
National Wildlife Federation Naturalist David Mizejewski explores the relationship between sea ice and polar bears. As continued global warm...
-
New York City's current and former mayors highlight the revitalization of lower Manhattan in the days leading up to the 10th anniversary...
-
Leuk idee om de aandacht op een bedrijf te vestigen. Wire & Twine maakte een op zich mooi overzicht van 50 manieren waarmee ze u willen ...
-
In New Orleans: Recovering From a Post-Katrina 'Brain Drain' : News : Breaking : Climate Central
-
NS en Greenwheels lanceren samen de eerste twee Volkswagen e-Golfs. De elektrische deelauto’s zijn vanaf donderdag 13 september te vinden bi...
-
Hundreds of young people converged on the United Nations in New York today as the General Assembly kicked off a high-level meeting devoted t...
-
At IBM's THINK Forum in NYC, Joshua Cooper Ramo, Managing Director, Kissinger Associates comments on not letting the risks of a networke...
-
Persons with disabilities must enjoy full human rights and fundamental freedoms and enabling them to do so benefits society as a whole, Depu...
-
Bridget van Kralingen, General Manager, IBM North America discusses Making the World Work Better at the IBM THINK Forum
-
Never before has a time in history been so significant to so many cultures, religions, scientists and governments. Beyond 2012 looks past th...
No comments :
Post a Comment