The Green New Deal (GND) would impose massive and recurring annual costs on swing-state households if it is implemented, according to a new report from a conservative nonprofit group published on Wednesday, Feb. 26.
The new report from the Competitive Enterprise Institute (CEI) was conducted in 11 swing states where Americans could expect to spend $75,168 in the first year of implementation of the GND, excluding Alaska at $84,584. The average annual costs per household is about $50,000 for the subsequent four years.
“Our analysis shows that, if implemented, the Green New Deal would cost for American households at least tens of thousands of dollars annually on a permanent basis,” CEI President Kent Lassman said.
“Perhaps that’s why exactly zero Senate Democrats, including the resolution’s 12 co-sponsors, voted for the Green New Deal when they had the chance,” he added.
CEI noted that the vague, overarching nature of the GND and other variables could make the costs much higher than estimated. A report from right-leaning group American Action Forum also made similar findings, indicating that the GND could cost up to $93 trillion over 10 years, reported the Daily Caller.
To some Democratic presidential candidates including Sen. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.), the GND is a prominent feature of their agendas in a bid to win the White House.
Sanders on Monday released a fact sheet, stating that his GND plan would created “20 million new jobs” which ensures $2.3 trillion in “new income tax revenue,” without providing details.
The senator of Vermont, who praised Cuban dictator Fidel Castro’s “literacy program,” explained that he’d pay for his sweeping new government programs through new taxes, cutting spending on the military, and massive lawsuits against the fossil fuel industry. However, many of Sanders’s expected cost-saving measures based on conjecture and best-case scenarios, according to the Fox News.
“The plan correctly recognizes the importance and urgency of climate change, but it would be extremely difficult to get any traction on it under the current legal and regulatory constraints,” Kenneth Gillingham, associate professor of economics at Yale University, told Newsweek.
“Should Sanders be elected to the presidency, his team will have to very seriously rethink the plan if they actually want to accomplish anything on climate change,” he added. “The plan is really more of an aspirational idea than a serious policy proposal.”