WASHINGTON—Nick Loris, Heritage Foundation economist and Herbert and Joyce Morgan fellow, responding to Representative Alexandria Ocasio-Cortez (D-NY) and Senator Ed Markey (D-MA) releasing their plan for a Green New Deal in a non-binding resolution said:
"We all want clean and affordable energy to fuel our economy and improve our lives. But the so-called Green New Deal would make energy unaffordable and devastate the economy, hitting working-class Americans the hardest. Not only would this resolution by Rep. Ocasio-Cortez be fiscally and economically catastrophic for American families and businesses – there would be no meaningful climate benefit, so this is nothing but a raw deal for America."
"The bottom line is that there is really nothing new about the Green New Deal. It looks like the same tired, tried-and-failed calls for a government takeover of a large sector of the economy through subsidies, taxes, mandates and regulation. If the Left was serious about anything other than amassing power for itself, it would offer a real new deal that included removing barriers to technology innovation, permitting new projects and energy trade, providing efficient pathways to commercialize research at America’s national laboratories, and promoting competitive electricity market policies that empower consumers to choose what type of energy is best for their needs."