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The yearly battle over the U.S. budget officially begins on Feb. 2, when the president plans to send his fiscal 2016 funding proposal to Congress, where it will be torn to shreds or ignored entirely.
While the annual drama involves trillions of dollars, it’s usually of limited interest to far-flung governments around the world. Not this year, though, thanks to a budget line item whose fate will be closely tracked by an international audience.
The line item of interest is President Barack Obama’s expected request for money for the Green Climate Fund, which is a key component in the push for a global agreement this year to limit global warming. The fund is meant to collect and distribute money from developed nations to help poorer and developing countries lower future carbon emissions and prevent further damage from the effects of climate change.