By Thomas Catenacci | Fox News
Green New Deal estimated to cost up to $92.9 trillion, according to American Action Forum analysis
A group of Democratic lawmakers reintroduced the Green New Deal, sweeping legislation that would cost taxpayers tens of trillions of dollars and phase out fossil fuel production.
The Democrats — led by Rep. Alexandria Ocasio-Cortez, D-N.Y., and Sen. Ed Markey, D-Mass. — said their legislation, if enacted, would “tackle the climate crisis” with a decade-long mobilization that creates millions of good-paying, union jobs. They added the bill would strengthen U.S. infrastructure and combat pollution.
“When we first introduced the Green New Deal, we were told that our vision for the future was too aspirational,” Ocasio-Cortez said. “Four years later, we see core tenets of the Green New Deal reflected in the Inflation Reduction Act — the largest ever federal investment in fighting climate change, with a focus on creating good, green jobs.”
“But there is still much, much more to do to make environmental justice the center of U.S. climate policy,” she continued. “Today’s reintroduction marks the beginning of that process — of strengthening and broadening our coalition, and of laying the policy groundwork for the next fight.”
Ocasio-Cortez and Markey, meanwhile, first introduced the Green New Deal resolution in February 2019 amid calls from climate activists and environmental organizations for Congress to pass aggressive policies curbing carbon emissions. The bill has been backed by a wide range of left-wing environmental and labor groups in addition to other Democrats.
While the Green New Deal is just 14 pages and includes little detail about how it would achieve its lofty greenhouse gas emissions reduction goals, the legislation would effectively end fossil fuel extraction and include massive investments in green energy alternatives.
An analysis released by the American Action Forum shortly after the resolution was first introduced estimated that its provisions would cost up to $92.9 trillion.
“In the four years since we first introduced the Green New Deal, the tides of our movement have risen and lifted climate action to the top of the national agenda,” Markey said in a statement.
We have demonstrated that our movement is a potent political force, and in the run-up to the 2024 elections, we will direct this power to demanding solutions to the intersectional crises Congress has yet to address: in health care, child care, schools, housing, transit, labor, and economic and racial justice,” the Massachusetts lawmaker continued.
Overall, the Green New Deal calls for the U.S. to produce 100% of its power using zero-emissions sources, invest in electric vehicle development and upgrade infrastructure to achieve “maximum energy efficiency, water efficiency, safety, affordability, comfort, and durability, including through electrification.”
Groups including Greenpeace USA, League of Conservation Voters, Sierra Club, Sunrise Movement and WildEarth Guardians endorsed the reintroduction of the Green New Deal.
