Thursday, June 20, 2024

Biden/Infrastructure Plan: Bill Gates Willing to Pay $1.5 Billion

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Maria Gill
Maria Gill
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Microsoft co-founder Bill Gates said Thursday that his Climate Investment Fund will commit $1.5 billion to joint projects with the US government if Congress passes a program to develop technologies that reduce carbon emissions.

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The Senate on Tuesday approved a $1.2 trillion investment plan.

It saves $550 billion in new federal spending to renovate roads, bridges and transportation, but also in high-speed internet and to combat climate change, for example by building a network of charging stations for electric cars.

In an interview with the Wall Street Journal, Bill Gates specified that 1.5 billion could be spent over three years on projects aimed at slowing greenhouse gas emissions, which are responsible for climate change.

Projects could include producing zero-emission fuels for aircraft and developing technology to capture carbon dioxide from the air.

“It is essential to reduce the costs of these technologies and to spread them widely,” Mr. Gates commented.

“Proliferation at this level means that the government is coming up with the right policies and that’s exactly what is in the infrastructure bill,” he said.

The plan has not yet received the green light from the House of Representatives. The final vote is not expected until the fall.

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