The Sarah Bloom Raskin debacle is another strike to Biden’s climate agenda.
By Emily Pontecorvo, Grist
The remaining paths for the Biden administration to usher in a new era of federal climate action are crumbling. The president’s signature climate legislation to fund clean energy, the Build Back Better Act, has been held up in the Senate for months. The Supreme Court is expected to curtail the Environmental Protection Agency’s power to regulate greenhouse gas emissions. And now, Sarah Bloom Raskin, a nominee to the Federal Reserve Board who aimed to prevent a climate change–fueled financial crisis, has been forced to withdraw.
On Monday, Senator Joe Manchin of West Virginia announced that he would not vote in favor of confirming Raskin as the Federal Reserve’s vice chair for supervision. With Raskin receiving zero support from Republicans, and Manchin representing the crucial 50th Democratic vote in the Senate, the announcement torpedoed her nomination. The reason? Manchin was worried Raskin had it in for the fossil fuel industry.
“Her previous public statements have failed to satisfactorily address my concerns about the critical importance of financing an all-of-the-above energy policy to meet our nation’s critical energy needs,” Manchin said in a statement.
Recent Posts
Chicago Mayoral Candidate Brandon Johnson’s Plan To Reduce Violence And Rein In The Police At The Same Time
Take Action Now With public safety front and center in Chicago’s runoff mayoral election, Brandon Johnson, a public school teacher, has emerged as a…
Starbucks Workers Build Steam
Take Action Now Since last fall, the union effort has increased its capacity to exert pressure on the corporate mega-giant—including in a March 22…
Banking Crisis 3.0: Time To Change The Rules Of The Game
Take Action Now What constituted a radical departure from capitalist principles in the last financial crisis was not “nationalization” but an…
Behind The #StopCopCity Domestic Terrorism Warrants
Take Action Now “Most of the criminal defense lawyers I have spoken with are indicating that there is no individualized suspicion in any of these…