Wednesday, AOC read the entire Green New Deal resolution into Congressional records.
The progressive lawmaker declared “I have decided that since some of my colleagues across the aisle could not for some reason read the resolution, that perhaps this hour would be spent best reading it to them.”
However a new study finds that the deal could be VERY costly for swing state households.
In fact, at a $75k year one, it may be even more than the total annual revenue of many households.
Fox News reports a new study claims that progressives’ Green New Deal (GND) would impose around $75,000 in average annual costs for households in key battleground states — raising questions as to how climate politics will impact voter sentiment going into the 2020 elections.
The report, released by the Competitive Enterprise Institute (CEI) and Power the Future on Wednesday, builds upon a previous study from the organization last summer.
Using updated data, the group found that within the first year of implementation, the GND would cost households an average of between $74,287 and $76,683 in 10 states — Colorado ($74,287), Florida ($76,109), Iowa ($76,683), Michigan ($74,470), New Hampshire ($74,723), New Mexico ($74,432), North Carolina ($74,609), Ohio ($75,807), Pennsylvania ($75,307), and Wisconsin ($75,252).
Those figures incorporate the cost of electricity production within the first year of the program, a one-time upgrade to vehicles and housing, as well as shipping and logistics costs incurred from GND mandates.
CEI also examined Alaska, which would purportedly face $84,584 in average annual household costs during the GND’s first year. While the costs for each of the states declined in the following years, they all faced more than $39,000 in average annual household costs in the long term (six years or more).
The report also identifies collective costs per state based on all of those factors, omitting electricity production.
In total, these states would face $2.7 trillion in aggregate costs to households. Households just in the key battleground state of Florida would face $700 billion in collective costs to fulfill the GND’s goal of transitioning towards electric vehicles, retrofit residential buildings, and complying with changes to shipping and logistics. Released on Wednesday, the study found that households in other major states — like Ohio, Michigan, and Pennsylvania — would incur roughly $200-$400 billion in initial costs.
Because the GND is so sweeping in its goals, it was difficult for CEI to fully account for the true costs of implementation. And it’s unclear how Democratic spending would help mitigate the costs incurred by households.
Yet, the free market think tank calculated base estimates showing a hefty price for GND mandates energy-related provisions of the progressive proposal. The other aspects of the proposal, it said, “dwarf the energy-related costs by an order of magnitude.”