The Cost of the Green New Deal

The proposed Green New Deal would be incredibly costly for American families and businesses—for no meaningful climate benefit. Moreover, the plan would introduce a completely new level of cronyism and corporate welfare that would harm consumers multiple times over. The policies proposed in the Green New Deal would disrupt energy markets and skew investment decisions toward politically connected projects. Instead of implementing economically destructive policies of more taxes, regulations, and subsidies, federal and state policymakers should remove government-imposed barriers to energy innovation. Allowing all forms of energy to compete equally in a free market will enable the U.S. to make tremendous strides in terms of a healthy economy as well as a healthy environment.