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THE GREEN NEW DEAL: SCOPE, SCALE, AND IMPLICATIONS

February 25, 2019
By Douglas Holtz-Eakin, et al.

The sweeping policy proposals contained in the Green New Deal, and the industrial mobilization it would require could cost upwards of $93 trillion.

From the Executive Summary:

The Green New Deal (GND) is a sweeping policy plan setting out ambitious objectives for energy and economic policy. 

 

  • The GND’s proposed goals, “mobilization,” and specific policy projects encompass social and institutional changes far exceeding the narrow policy goals, but these changes are impossible to quantify at this point;
  • Many of the policies proposed in the GND are redundant with other aspects in it, which also complicates a precise analysis, as the interactions are difficult to predict; and
  • The GND will be very expensive – our initial estimates for the tractable aspects [are that it would top $93 trillion].