The Green New Deal could cost each household in America a whopping $72,000, according to a new study released Tuesday by the Competitive Enterprise Institute (CEI).
BizPac Review reports each household “will be on the hook for more than $70,000 in increased costs for electricity, upgrading vehicles and housing, and shipping in just the first year under the Green New Deal.”
The tremendous cost is a mere average for households across the country with some people paying much more.
From BizPac Review:
The study specifically looked at five model states: Alaska, Florida, New Hampshire, New Mexico, and Pennsylvania. In each of the states, it was found that year one would result in staggering new costs, to be followed by ongoing, annual bank-account draining sums into perpetuity for every household. Alaska, given its remoteness and dependence on fossil fuels, would in fact see individual household costs of more than $100,000 in year one.
Co-author of the study, CEI President Kent Lassman, described the Green New Deal as an overhaul of America’s energy and infrastructure systems.
“The Green New Deal is a radical blueprint to de-carbonize the American economy by refashioning how we grow food, move people and goods, source and distribute electricity, and build the structures where we live, work, and play,” Lassman said per the report. “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. 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.”
Here’s even more on the Green New Deal and the study, from BizPac Review:
“Economists and experts have been warning us for months about the devastating effects of the Green New Deal, and now we have the numbers to prove it,” said Daniel Turner, Executive Director of Power the Future. “This study only calculates a fraction of the cost of Alexandria-Ocasio Cortez’s radical plan, which amounts to a socialist free-for-all with no regard for the American taxpayer. No family should be forced to pay tens of thousands of dollars in the first year alone to fund AOC’s ideological wish list. Thankfully, Americans see through the Green New Deal and are beginning to fight back.”
The study put down stunning data-based numbers that are beyond comprehension. Pennsylvania alone would face a total of $2-quadrillion (two-thousand trillions), or 500 times the annual federal budget, in costs to upgrade residential, commercial, and industrial buildings.
The study’s authors cautioned that their numbers probably underestimate the program’s actual price tag. “Most provisions of the GND are so broad and open-ended that the list of potential programs necessary to implement the program is limited by the capacity of legislators to imagine a new government program,” the authors wrote. “Therefore, it is impossible to calculate the whole or maximum cost of the GND. However, other parts of the GND are more precise, sufficiently so that an approximate minimum cost estimate is available.”
The Green New Deal was never brought to a vote in the House—the legislative chamber in which its author Congresswoman Alexandria Ocasio-Cortez is a member—and failed to receive even one single vote when Senators took up the proposal in March. Fifty-seven senators voted against it and 43 voted “present.”
At the time of the vote, Senate Majority Leader Mitch McConnell described it as a “destructive socialist daydream” and said it “would take a sledgehammer to America’s middle class.”Note: The author of this article has included commentary that expresses an opinion and analysis of the facts.