Image: Evan Vucci/AP
President Biden announced a new series of executive actions yesterday aimed at addressing climate change, referring to the situation as an “emergency” but stopping short of making a formal emergency declaration (which would give federal agencies heightened powers).
📝 More deets… The unveiled measures include $2.3 billion in funding to help states tackle climate-related issues like dealing with excessive heat, controlling floods, or retrofitting old buildings.
📸 Big picture: The White House’s announcement comes days after Sen. Joe Manchin (D-WV) told Democratic leaders that he isn’t prepared to support any climate legislation in the evenly-divided Senate while US inflation remains elevated, effectively killing any chance of a bill passing Congress.
🌍 Zoom out: Rising temperatures around the world have caused a record number of heat waves, droughts, and wildfires in recent years, per the WSJ.
🌍 President Biden arrived in Tel Aviv on Wednesday for the start of a four-day trip to the Middle East, which includes visits with the leaders of Israel, Saudi Arabia, and other Middle Eastern nations.
💰🏛 US taxpayers paid $3–$4 for every $1 in wages and benefits received by workers in jobs saved by the Paycheck Protection Program (PPP), per a new study by the Federal Reserve Bank of St. Louis.
💰🎓 The Biden administration announced new changes to the federal student loan system yesterday that would affect nearly all of the more than 40 million Americans who hold federal student debt. All told, borrowers owe ~$1.6 trillion in student loans – an amount larger than credit card or auto debt.
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