Obama’s Proposed Budget Allocates $27.9B for Energy
President Obama released his fiscal year 2015 budget proposal, which would provide $27.9 billion in funds for the Department of Energy. This budget request represents a 2.6 percent increase above the FY 2014 enacted level.
The budget proposal directs the DOE to advance the administration’s “all-of-the-above” energy strategy by investing $4.2 billion of its funds in applied energy programs to drive energy sector innovation.
The proposed budget would also allocate $2.3 billion of the DOE’s funds to the Office of Energy Efficiency and Renewable Energy, and states, “The Budget also supports technical assistance to States and local communities to help ensure shale gas is developed in a safe, responsible way.”
Once again, the President has proposed eliminating $4 billion annually in fossil fuel subsidies. But previous proposals to cut these subsidies have not passed Congress.
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