Green New Deal has a $93T price tag, former OMB director says
Former OMB Director and American Action Forum president Doug Holtz-Eakin estimates the Green New Deal could cost $93 trillion over 10 years.
In an interview on FOX Business’ “Cavuto: Coast-to-Coast,” Holtz-Eakin told host Neil Cavuto what it’ll take to get this deal through.
“If you start adding up what it’ll take, you get some very, very large numbers,” he said on Friday. “$36 trillion for single-payer health care system. Another $6-44 trillion to guarantee everybody a job that has retirement benefits, paid family leave, paid vacation, and a standard of living enough to support a family. An entirely recyclable - renewable electricity grid. These are all big changes and big changes cost a lot of money.”
American Action Forum is predicting the Green New Deal could cost $600,000 per household over 10 years.
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The group’s analysis estimates that in the deal, the low-carbon electricity grid proposal could cost $5.4 trillion, guaranteed job proposal could cost up to $44.6 trillion, Universal Health Care proposal could cost $36 trillion, and the guaranteed housing proposal could cost up to $4.2 trillion all over 10 years.