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A field of solar panels in Germany. Photo: Lukas Schulze / Getty Images

The newly-released Capitol Hill government spending plan rejects the White House's push to sharply cut renewable energy R&D and kill an Energy Department program that seeds breakthrough technology innovation.

Why it matters: There's little GOP appetite on Capitol Hill for the White House's energy spending agenda, even as Republicans largely support the Trump administration's efforts to unwind regulations and expand fossil fuel development.

A few numbers: The sweeping fiscal year 2018 spending plan would . . .

  • Provide over $2.3 billion for DOE's Office of Energy Efficiency and Renewable Energy, an increase over current levels that rejects the White House's proposal to cut funding by two-thirds.
  • Provide $353 million for DOE's Advanced Research Projects Agency — a roughly $48 million boost that bats aside the White House effort to end the program that's popular on both sides of the aisle.
  • Increase funding for DOE's fossil energy arm to roughly $727 million, in contrast to the White House request for a cut in its fiscal year 2018 request. The Office of Fossil Energy includes work to develop low-carbon coal tech.
  • DOE's Office of Science would see an $868 million boost to $6.26 billion, per Science Magazine — instead of the 15% cut the White House wanted.

Our thought bubble: While the White House budget plan is always DOA, it nonetheless helps to set parameters around decisions. So that's one reason — though hardly the only one — that advocates for a huge increase in clean tech R&D spending won't have traction anytime soon.

Go deeper: This Washington Examiner piece looks at EPA funding and the bill's mandate for another round of sales from the Strategic Petroleum Reserve.

Go way deeper: You can read the whole 2,232 page, $1.3 trillion federal spending bill here.

Editor's note: This story has been corrected to compare the omnibus to the White House's FY 2018 proposal and not FY 2019 proposal.

Go deeper

1 hour ago - World

Netanyahu and Israel reluctantly adjust to a post-Trump Washington

Netanyahu (R) and Biden in 2010. Photo: Avi Ohayon/GPO via Getty

Prime Minister Benjamin Netanyahu and his close aides are very nervous about the transition to a new U.S. administration after a four-year honeymoon with Donald Trump. One Israeli official told me it felt like going through detox.

What he's saying: Netanyahu congratulated Biden minutes after he was sworn in, saying in a statement that he looked forward to working together to "continue expanding peace between Israel and the Arab world and to confront common challenges, chief among them the threat posed by Iran."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. State of play: New coronavirus cases down, but more bad news ahead.
  2. Politics: Biden set to immediately ramp up federal pandemic response with 10 executive actions — Scoop: Joe Biden's COVID-19 bubble.
  3. World: Biden will order U.S. to rejoin World Health OrganizationBiden to bring U.S. into global COVAX initiative for equitable vaccine access.
  4. Vaccine: Amazon offers to help Biden administration with COVID vaccine efforts.
Dion Rabouin, author of Markets
3 hours ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.