US to Invest $14Bln to Strengthen Supply Chain, Defense against Climate Change
Washington – The Biden administration is announcing an investment of more than $14 billion to strengthen the US supply chain network and the defenses against climate change, the White House said on Wednesday.
“Today, the Biden-Harris Administration is announcing that it will invest more than $14 billion of this funding in fiscal year 2022 for over 500 projects across 52 states and territories,” the White House said in a fact sheet.
“These Key projects will strengthen the nation’s supply chain, provide significant new economic opportunities nationwide and bolster our defenses against climate change,” the White House added.
Through the Bipartisan Infrastructure Law, the Biden administration will make what it calls the single largest investment on the Everglades, while the US Army Corps of Engineers will direct $1.1 billion to help protect, preserve and restore critical ecosystems and water supplies elsewhere.
The Everglades is the source of drinking water for eight million residents of Florida and a key element of that state’s $90 billion tourist industry as well as a shelter for endangered animals, flora and fauna.
A key element in the Biden administration’s efforts are investments that add to the so-called Justice40 commitment, which stipulates that 40% of the overall benefits from US federal government investments to mitigate climate change and implement clean energy goes to build economies in communities most affected by environmental injustice.
The federal government will invest more than $5.7 billion in Fiscal Year 2022 through its Disaster Relief and Supplemental Appropriations Act to strengthen disaster mitigation and the recovery efforts in communities still recovering from extreme weather events, the White House stressed.
The money will help residents to better protect their homes and businesses and reduce the effects of climate change, the White House added.
Some $3.3 billion is allocated to New York, New Jersey, Louisiana and Pennsylvania, where major disasters were declared because of the devastation caused by Hurricane Ida, according to the same source.
