Current Administrations Budget Essay Example | Topics and Well Written Essays - 1500 words

Current Administrations Budget - Essay Example a higher premium for Medicares prescription drug coverage, and increasing the amount of money drug manufacturers rebate to states for prescription drugs covered under Medicaid will comprise the proposal (â€Å"Obama 2010 budget highlights by agency,† 2009). Obamas budget indicated that the environment is a main concern by providing the largest increase for the Environmental Protection Agency in eight years. The proposal nearly triples — to $3.9 billion for funding states, local governments and tribes. They can use the money for the improvement of sewage treatment plants and drinking water systems and to protect drinking water sources. These programs already received $6 billion in the recently approved stimulus package. Starting in 2012, the budget proposes to invest $15 billion a year in clean energy — money created from auctioning permits to companies that emit the gases blamed for global warming. The rest of the climate cash will be returned to taxpayers. In another move that could increase energy prices, the EPA budget calls for reinstating taxes on petroleum products, chemical feedstocks and crude oil to pay for cleaning the countrys most harmful waste sites. These taxes expired in 1995. but would set up again in 2011 under Obamas budget (â€Å"Obama 2010 budget highlights by agency,† 2009). Proposed Budget on Energy and Climate Change: The Administration is extending a comprehensive energy and climate change plan to invest in safe and uncontaminated energy, terminate our addiction to oil, concentrate on the global climate crisis, and create new American jobs that cannot be outsourced. After enactment of the Budget, the Administration will work promptly with key stakeholders and the Congress will create an economy-wide emissions reduction program to lessen greenhouse gas emissions roughly 14 percent below 2005 levels by 2020, and approximately 83 percent below 2005 levels by 2050. The cap-and-trade system program will be implemented. This program