A recent study from the Competitive Enterprise Institute is shedding new light on the astronomical costs associated with the Democrats’ Green New Deal; showing the far-left proposal would cost the average household more than $75,000 in its first year.
“In July 2019, we released the results of our analysis on how the GND would affect a typical household in each of five states. We have revisited and extended the analysis to cover six additional states. In one, Wisconsin, we draw on new work to highlight industry-specific effects for agriculture. Where possible, we have updated data and calculations to account for new information such as population and autos on the roads,” writes the CEI.
“The sum of our analysis is not favorable for the GND’s advocates—or for the typical household budget. At best, it can be described as an overwhelmingly expensive proposal reliant on technologies that have not yet been invented. More likely, the GND would drive the American economy into a steep economic depression, while putting off-limits affordable energy necessary for basic social institutions like hospitals, schools, clean water and sanitation, cargo shipments, and the production and transport of the majority of America’s food supply,” adds the report.
In Ohio, the first year of the GND will likely cost $75,807 per household. That number rises to $84,584 for residents in Alaska.