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Obama plans $1B climate fund

FRESNO, Calif. — President Barack Obama said here Friday that he will propose a $1 billion fund in his fiscal 2015 budget to help communities prepare for the effects of climate change and to fund research and technology to protect against its impact.

The president announced the "climate resilience fund" during a meeting with farmers and ranchers in Fresno who have been severely affected by a drought in California's San Joaquin Valley.

As of Tuesday, 91.6 percent of the state was experiencing severe or exceptional drought.

Obama is expected to release his proposed 2015 budget in early March. The prospects for the climate fund are uncertain in a Republican-controlled House. But Obama, who made preparation for climate change one of the major themes of the climate action plan he released in June, will continue to press for the need to adapt, according to the White House.

Obama also announced a series of measures to help Western farmers and ranchers recover from the drought, which is now in its third year.

They include $100 million in livestock disaster assistance for California feed producers, $60 million for food banks to help California families affected by the water shortage and $15 million in conservation assistance for Texas, Oklahoma, Nebraska, Colorado and New Mexico, as well as California.

Cities across the country are formulating and, in some cases, enacting their own plans to protect against rising water, increased temperatures and more frequent severe weather. New York, for example, last year announced a $19.5 billion plan to protect its 520 miles of shoreline against rising seawaters, and the Gulf Coast of Louisiana released a $50 billion plan in 2012.

Obama plans $1B climate fund 02/14/14 [Last modified: Saturday, February 15, 2014 1:08am]
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