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A new macroeconomics analysis shows that if you want to create jobs and boost the economy, one of the best things you can do at the moment is enact strong, smart climate change and clean energy policy.
“The Center for Climate Strategies (CCS), building upon analysis they did of state-level climate plans for the National Governors Association, analyzed the economic and environmental impact of legislation in line with the planned Kerry-Graham-Lieberman framework. As long as state-level policies are boosted instead of pre-empted, CCS found that previous economic analyses by federal agencies and industry groups are wrong,” Brad Johnson of the Wonk Room reports.
Rather than slowing the economy, strong climate change policy would make household wealth and jobs grow faster.
In total, the US would create approximately 2.8 million jobs (this is net, the number of jobs created after accounting for jobs lost in dirty energy sectors). The economy as a whole would grow by about $154.7 billion by 2020.
In regards to climate change pollution, with strong standards, US greenhouse gas emissions would be reduced by about 27% of 1990 levels.
“The modeled job creation is consistent with the findings of Political Economy Research Institute at the University of Massachusetts, which used an input-output model to find that a green economy would create 1.7 million new jobs,” Johnson reports.
All of this is even completely ignoring the tremendous economic benefits related to health and the environment that would also result from a strong national climate change policy.
It looks like if we want to help the economy, improve and protect the health of people in the US and abroad, and create jobs, it is time to get moving on this. The stronger the policy, the greater the benefits (in the economy, for the environment and for human health).
Image Credit: Center for Climate Strategies via The Wonk Room
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