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Climate Politics

Here’s What’s in Democrats’ $370 Billion Climate Spending Deal

A solar farm near Mojave, California. 

A solar farm near Mojave, California. 

Photographer: Patrick T. Fallon/AFP/Getty Images 

In a breakthrough that surprised much of Washington, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced Wednesday they agreed on a plan that includes a record $370 billion in spending to fight climate change.

The deal -- if it can pass muster with all 50 Democrats in the Senate, as well as progressives in the House -- would cut greenhouse gas emissions by about 40% by the end of the decade, according to analysts. That helps put the US on track to meet President Joe Biden’s goal of cutting emissions by as much as 52% from 2005 levels by the end of the decade.