Obama seeks to double US funds for clean energy

President Barack Obama on Saturday proposed doubling US funding over the next five years for clean energy research and development, as part of his ongoing effort to tackle climate change.

In his weekly media address, Obama announced that he will send a budget to Congress on Tuesday which hits twice the current spending levels for clean energy research and development by 2020, declaring that "rather than subsidize the past, we should invest in the future."

The president next week sends to Congress the final spending blueprint of his presidency -- a guidepost to his policy priorities -- including proposals in the coming fiscal year to raise taxes and boost spending.

"One of the greatest challenges of our time is climate change," the US leader said.