.S. President Joe Biden on Friday proposed $14 billion in spending on initiatives to fight climate change in the 2022 budget, including large cash injections for environmental regulation and science research.

The proposal underscores the administration's ambitions to decarbonizing the economy by 2050 to stem global warming, reversing a policy direction set by former President Donald Trump to slash red tape that hindered fossil fuel production.

Biden's so-called "skinny", or preliminary, budget proposal includes $11.1 billion for the U.S. Environmental Protection Agency, a 21.3% boost over last year's enacted level.

It also includes $10.2 billion for the National Science Foundation, up 20% from the 2021 enacted level, with $500 million of that going to climate and clean energy research.

Guest post from Reuters