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Analysis Shows Green New Deal Could Cost More Than $93 Trillion (Guest: Philip Rossetti)

April 29, 2019

If implemented, the wide-ranging Green New Deal could cost more than $93 trillion dollars, four times more than the United States GDP in 2017.

Co-author of the study, "The Green New Deal: Scope, Scale, and Implications," Philip Rossetti says the Green New Deal pushed by Democratic Socialist Rep. Alexandria Ocasio-Cortez (NY) and Sen. Ed Markey (D-MA) contains sweeping policy proposals which would require an industrial mobilization of the entire economy larger than what occurred during World War II. Although the plan encompass social and institutional changes that are impossible to quantify at this point, the parts of the Green New Deal that can be economically quantified could cost more than $93 trillion, which is four times more than the United States entire GDP in 2017. More, it would account for up to half of the nation's GDP over the 10 years of its implementation.

Author
H. Sterling Burnett, Ph.D. is a Heartland senior fellow on environmental policy and the managing editor of Environment & Climate News.
hsburnett@heartland.org