Prior to August recess, the Senate passed a budget reconciliation package that features $369 billion in climate and energy spending. In an effort to secure Sen. Sinema’s (D-AZ) support of the Inflation Reduction Act, Senate Democrats agreed to include $4 billion in funding to address droughts in the West. In addition to the passage of the reconciliation package, Sen. Joe Manchin (D-WV) released a draft of environmental permitting reforms. In California, the United States District Court for the Central District of California Western Division settled a lawsuit between Gov. Gavin Newsom (D-CA) and the Bureau of Land Management. Finally, the Commodity Futures Training Commission has extended its request for information regarding climate-related financial risk.
To read Akin Gump’s most recent climate policy update, please click here.