President Donald Trump’s proposed budget proposes to slash the nation’s annual carbon budget by half.
The White House released the budget in a Tuesday release that also lays out the president’s proposed goals for energy production and consumption.
According to the White House, the proposed cuts will “save jobs and the economy billions of dollars over the next decade.”
According to a study by the Union of Concerned Scientists, the federal government currently spends about 1.7 trillion dollars a year on carbon pollution.
According the study, that means each American family would save $1,500 if they adopted a more sustainable lifestyle.
The White House budget would slash that budget by almost half.
It’s important to note that this budget does not include the trillions of dollars in federal spending that the Obama administration spent on the Paris Climate Agreement, as well as the billions of tax dollars spent to try to reduce emissions.
In addition, the budget calls for $1.6 trillion in cuts to the Environmental Protection Agency.
But Trump also wants to spend more money on coal and other fossil fuel-related programs.
The budget also calls for “a $500 million reduction in the EPA’s budget for greenhouse gas reduction programs.”
The Environmental Protection Department, for example, would lose nearly half of its budget, the White Repository reported.
The EPA budget is currently at about $9 billion, which is well above the $5.8 billion it had in 2015.
“The proposed budget cuts EPA’s $600 million in grants for carbon capture and sequestration (CCS) projects and $500,000 from the U.S. Clean Energy Finance Corp., which is a federal program that provides loans to help states transition from coal-fired power plants,” according to the report.
Trump’s budget also includes a $1 billion “clean coal tax credit,” which would provide tax credits to businesses that buy and sell carbon credits from coal companies.
Under the proposal, businesses with an annual gross income of more than $100,000 could receive up to $1 million in tax breaks, while businesses with annual gross incomes under $50,000 would receive $750,000.
The bill also would eliminate the Environmental Policy Act, which was passed in 1986 to combat the harmful effects of the Great Depression.
The Clean Air Act, enacted in 1970, requires that all fossil fuels be phased out by 2025, and the Clean Water Act, signed into law in 1972, prohibits pollution from oil, coal, and gas extraction, and water pollution.
“Trump’s plan is a dangerous attack on the future of America’s economy, jobs, and environmental protections,” said Betsy McCaughey, senior climate policy director at 350.org.
“President Trump’s climate plan would hurt the most vulnerable in our country while hurting the economy.
This is not the time for the president to attack the clean air and clean water protections of our nation’s families, or to deny climate change science.”
“This budget is the wrong direction for America and for the planet,” McCauggy added.
“It’s an insult to our children and our children’s children.
It’s a dangerous policy that would destroy the future we have to look forward to.”