The "Green New Deal" would cost up to $94.4 trillion, or over $600,000 per household in the United States, according to a new study.
The American Action Forum study offers a conservative estimate of the costs of providing every resident in the country a federal job with benefits, "adequate" housing, "healthy food," and health care.
Though Democratic socialist Rep. Alexandria Ocasio-Cortez's (D., N.Y.) plan is vague on specifics, it calls for the "economic transformation" of the United States, a complete overhaul of transportation systems, and retrofitting every single building. A supplemental document explaining the plan, since deleted from her website after it was widely mocked on social media, called for economic security for everyone, even those "unwilling to work," the elimination of air travel, and "farting cows."
However, the American Action Forum was able to calculate estimates for several items the plan does propose, including guaranteed green housing, universal health care, and food security. Estimates of specific goals identified in the Green New Deal would cost each household in America between $36,100 and $65,300 every year.
"The American Action Forum's analysis shows that the Green New Deal would bankrupt the nation," said Sen. John Barrasso (R., Wyo.), chairman of the Senate Committee on Environment and Public Works.
"On the upper end, every American household would have to pay $65,000 per year to foot the bill," he said. "The total price tag would be $93 trillion over 10 years. That is roughly four times the value of all Fortune 500 companies combined. That's no deal."
Study: Green New Deal Would Cost Up to $94 Trillion
Estimates of specific goals identified in the Green New Deal would cost each household in America between $36,100 and $65,300 every year.
