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The Green New Deal
information from: https://www.investopedia.com/the…
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The term Green New Deal has been used to describe various sets of policies that aim to make systemic change.
The deal, which failed to pass in the Senate, emphasizes environmental and social justice while calling for the creation of new jobs.
On March 26, 2019, lawmakers in the Senate voted 57-0 against advancing the resolution with 43 out of 47 Democrats voting "present" in order to not take a formal position.
The Green New Deal resolution doesn't mention how the U.S. government, which has more than $28.5 trillion in debt, would pay for it
"The federal government can spend money on public priorities without raising revenue, and it won’t wreck the nation’s economy to do so,"
What does it want?
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Repairing and upgrading existing infrastructure to withstand extreme weather and ensuring all bills related to infrastructure in Congress address climate change
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Building or upgrading to energy-efficient, distributed, and smart power grids that provide affordable electricity
Upgrading all existing buildings and building new ones so that they achieve maximum energy efficiency, water efficiency, safety, affordability, comfort, and durability.
Supporting family farming, investing in sustainable farming, and building a more sustainable and equitable food system
Investing in transportation systems, namely zero-emission vehicle infrastructure and manufacturing, public transit, and high-speed rail
Restoring ecosystems through land preservation, afforestation, and science-based projects
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although it will be expensive to implement, not doing so will be more expensive in the long run.
But critics call it too socialist, too extreme, or too impractical.
The kind of overhaul the deal calls for would be very expensive and require significant government intervention.
instead of deficit funding, the government should use revenues that come from dismantled subsidies and environmental taxes.
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