Biden says in Colorado that extreme weather will cost U.S. over $100 billion this year

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Biden says in Colorado that extreme weather will cost U.S. over $100 billion this year
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President Joe Biden on Tuesday made Colorado the latest backdrop featuring nagging drought conditions and raging wildfires in the U.S. West to build support for infrastructure spending plans aimed at fighting the growing threat of climate change.

GOLDEN, Colo. -President Joe Biden said on Tuesday that extreme weather events would cost the United States over $100 billion this year, as he visited Colorado to highlight drought conditions and raging wildfires in the U.S. West.

Tropical Storm Nicholas was battering the Texas and Louisiana coasts on Tuesday, flooding streets and leaving hundreds of thousands of homes and businesses without power. "We have to make the investments that are going to slow our contributions to climate change, today, not tomorrow," Biden said after touring the National Renewable Energy Laboratory in Golden, Colorado.Biden estimated the economic damage caused by such events this year would come in at more than $100 billion, a day after saying they cost the United States $99 billion last year.

Republicans oppose the legislation due to its price tag and because taxes would be raised on the wealthy to pay for it.

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