Rep. Adam Schiff on Thursday proposed ending federal subsidies for oil and gas production, offering federal wildfire insurance and requiring insurance companies to disclose their fossil fuel investments as part of his campaign for California's open U.S. Senate seat.
Schiff's plan, obtained exclusively by POLITICO, is the most extensive climate platform put out by any of the top candidates. Schiff holds a commanding lead in recent polling ahead of California's top-two primary on March 5 while Rep. Katie Porter is tied for second with Republican Steve Garvey.
Porter, Schiff and Rep. Barbara Lee, who have all signed on to a stalled Green New Deal proposal in Congress, have been mostly in lockstep on the environment, a safe priority in deep-blue California.
Schiff said boosting electric vehicles, investing in renewable energy and banning fossil fuel leasing off the coast of California would lower costs for consumers while creating jobs and reducing greenhouse gases.
“The climate crisis is the single greatest existential threat facing our state, our nation, and our planet," he said in a statement.
Schiff has previously sought to run to the left of Porter and Lee on climate. At last month's Senate debate hosted by POLITICO, he was the only candidate to fully back Gov. Gavin Newsom's plan to transition to zero-emission new car sales by 2035. Lee and Porter expressed concerns about affordability and Porter attacked Schiff for accepting contributions from fossil fuel companies.
On the issue of water in the drought-prone state, where all of the candidates have avoided getting into specifics, Schiff remained high-level, calling for capturing more excess water, investing in the state’s aging flood-management infrastructure and providing more funding for lead pipe replacement.
The plan takes a hard line on oil. It notes that the federal government can generate $13 billion in tax revenue over a decade by eliminating oil subsidies, and calls for a windfall profits tax on oil companies that employ price-gouging tactics, which Newsom tried to establish last year. Schiff also proposed authorizing the Federal Trade Commission and Federal Energy Regulatory Commission to penalize utilities for price gouging during disasters and prohibiting permit renewals if oil companies fail to clean up after spills.
On electric vehicles, he called for requiring dealerships to offer tax credits at the time of sale, which is currently contingent on dealership participation, and for federal funding to cover 30 percent of the cost of e-bikes.
On wildfires, which are prompting insurers to increasingly drop suburban as well as rural Californians, Schiff proposed creating a federal reinsurance program to compensate insurers for their losses, as well as to boost wildfire management tactics such as prescribed fires.
Other specifics include a call for the federal Department of Energy to increase its funding for green tech incubators from $5 million per year to $475 million, the creation of a tax credit under the CARES Act for fossil fuel employers to retain their workers in other roles, and a boost of funding to $20 billion for projects to redesign or eliminate highways previously built through communities of color.
Taking a vocal stance on climate could provoke more attacks from former President Donald Trump. Trump on Tuesday posted a Truth Social screed against Schiff, who managed impeachment proceedings against the former president in 2019 and served on the House Jan. 6 committee. It included claims that he has done nothing for California but “push the green new scam and all electric car mandate” and “stop water from freely flowing into the state from up north.”
Schiff responded on X, “Clearly the mark of a very stable genius.”
Dustin Gardiner contributed to this report.
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By: Blanca Begert and Camille von Kaenel
Title: Adam Schiff steps out on climate
Sourced From: www.politico.com/news/2024/02/15/schiff-steps-out-on-climate-00141599
Published Date: Thu, 15 Feb 2024 08:30:00 EST
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