A $ 2 trillion green energy jobs plan


TOPLINE

Joe Biden’s second phase of his four-part economic recovery plan is a $ 2 trillion green energy infrastructure and jobs plan that promises to put the United States on the path to a carbon-free energy sector by 2035, an indication that he sees some key Green New Deal tenants as a vehicle to pull the United States out of a virus-induced recession.

KEY FACTS

“When Donald Trump thinks about climate change, the only word he can muster is’ deception, ‘” Biden said during a speech that revealed the plan Tuesday, “when I think about climate change, the word I think of is’ jobs. ‘”

The plan is more aggressive and costly than previous climate plans Biden released and comes as the candidate has adopted more progressive progressive climate policy ideas since his main opponent, Senator Bernie Sanders (I-Vt.), Left the race. and the candidate in politics began to help.

It takes $ 2 trillion over four years to reshape the energy economy, which is paid for through a combination of stimulus spending and taxes on corporations and the wealthy, according to Biden campaign officials.

Biden’s previous climate plan called for less investment in the climate economy: $ 1.7 trillion spread over 10 years.

The new proposal calls for radical investments in the United States’ infrastructure system to create “millions” of new jobs, including updating four million buildings over the next four years to meet the highest efficiency standards.

Biden will also present a climate justice plan that specifically focuses on holding companies accountable for pollution and offsetting the disproportionate impact of climate change on communities of color and low-income neighborhoods.

As Biden moves to the left in climate policy, President Trump can offer a completely different vision of the government’s role in preventing climate change: Trump withdrew many climate regulations from the Obama era and in 2017, brought out the United States of Paris climate agreement.

CRITICAL HEAD

The Trump campaign said Biden’s new energy launch was evidence that he was bowing to “socialist advisers” and “embracing the green New Deal.” “President Trump spent his first term in office undoing the destructive policies of Joe Biden and other Democrats, including high taxes, regulations for the elimination of jobs and catastrophic trade agreements,” the campaign said in a statement.

Crucial quote

Biden has repeatedly presented investing in green energy as a vehicle to lift the United States out of the current economic crisis. During a fundraiser on Monday, Biden called this the “irony of all ironies.” “[Green energy spending] It may be the answer to get us out of this economic situation we are in. “

Big number

40% The percentage of clean energy spent on the Biden campaign promises to be spent on disadvantaged communities.

Key background

Biden introduced the first phase of his “Build Back Better” plan last week, a “Buy America” ​​proposal that focuses on creating millions of jobs in manufacturing and innovation.

Further reading

Biden aims to offer recently ambitious climate targets (Washington Post)

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