According to a study from the American Action Forum, the Green New Deal can cost the American Tax Payer between $51-93 Trillion over the next 10 years.
Bloomberg:
Representative Alexandria Ocasio-Cortez’s ambitious plan to fight climate change won’t be cheap, according to a Republican-aligned think tank led by a former Congressional Budget Office director.
The so-called Green New Deal may tally between $51 trillion and $93 trillion over 10-years, concludes American Action Forum, which is run by Douglas Holtz-Eakin, who directed the non-partisan CBO from from 2003 to 2005.
That includes between $8.3 trillion and $12.3 trillion to meet the plan’s call to eliminate carbon emissions from the power and transportation sectors and between $42.8 trillion and $80.6 trillion for its economic agenda including providing jobs and health care for all.
“The Green New Deal is clearly very expensive,†the group said in its analysis. “It’s further expansion of the federal government’s role in some of the most basic decisions of daily life, however, would likely have a more lasting and damaging impact than its enormous price tag.â€
Here is more from The American Action Forum regarding the Green New Deal and its flaws:
The Green New Deal has received a lot of attention for its grand promises. But digging in to the details of the regulations that would be required to implement such a plan reveals an unrealistic and extraordinarily expensive process (to say nothing of the non-regulatory components). It is difficult to imagine any scenario where the economic costs of regulation fail to top $1 trillion, and they could be multiples of that amount. Further, implementing the regulations on the timeline called for by the plan would require astonishing agreement and haste from Congress, federal and state governments, and the private sector.
[1]Â This analysis uses the Green New Deal report produced by Data for Progress in September 2018 because it includes more specific policies. The Green New Deal has been more closely associated with the organization the Sunrise Movement.
These numbers equal around $600,000 per household:
A new study finds that Ocasio-Cortez’s Green New Deal would cost $93 TRILLION — or $600K per household.
You’d need a 100% tax rate on every household earning $30K or more to get enough revenue.
Remember: Every top 2020 Dem supports this socialist plan.https://t.co/gzgeRI4InM
— Ronna McDaniel (@GOPChairwoman) February 25, 2019
It is also important to look the timetable on The Green New Deal. Alexandria Ocasio-Cortez has constantly claimed that we only have ’12 years left’. However, even her Green New Deal doesn’t fix the emissions problem in 12 years.
It is also important to point out that instead of giving us what they think the Green New Deal will cost they just claimed this was ‘big oil propaganda’.
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