Feds’ Annual Climate Tab May Near $128 Billion, White House Says

Climate change is liable to cost the federal government an extra $25 billion to $128 billion per year by the end of the century, the White House said Monday.

The new estimates come as Biden administration officials prepare to justify their fiscal 2023 budget requests to Congress later in the week, and could provide additional heft to the White House’s asks. President Joe Biden also is trying to resurrect his stalled Build Back Better package, which contains hundreds of billions of dollars for an array of climate-related programs.

Overall climate spending in Biden’s budget proposal is $44.9 billion, a nearly ...