Wisconsin Spotlight | Nov. 10, 2020
Ballots are still being contested, President Trump has not conceded the election, but Joe Biden’s transition team is bulldozing ahead on plans that would dramatically grow government and shatter the economic boom the U.S. has enjoyed in recent years.
Biden and his farther-left running mate, California U.S. Sen. Kamala Harris, list climate change action as one of their four cornerstone priorities. Even if Team Biden rolls out a lighter version of the AOC-style Green New Deal, taxpayers and the economy will pay a hefty price.
“From coastal towns to rural farms to urban centers, climate change poses an existential threat — not just to our environment, but to our health, our communities, our national security, and our economic we-being,” the Biden-Harris transition team insists on its website.
The real crisis could come if climate change alarmists put in place regulations and tax hikes estimated at trillions of dollars that would force millions of Americans out of work, according to policy trackers.
Nationally, the CO2-centric portions of the Green New Deal, according to the Heritage Foundation, would over the run of implementation cost:
- An overall average shortfall of over 1.1 million jobs
- A peak employment shortfall of over 5.2 million jobs
- A total income loss of more than $165,000 for a family of four
- An aggregate gross domestic product loss of over $15 trillion
- Increases in household electricity expenditures averaging 30 percent.
Should Biden’s leftist pals get what they’re after, Wisconsin families would be shackled with $40,000 in new costs, and the Dairy State’s struggling agricultural sector would be crippled, according to the multi-state analysis authored by the Competitive Enterprise Institute (CEI) and Power the Future. Will Flanders, research director for the Wisconsin Institute for Law & Liberty, contributed to the study.
Rapidly shifting from fossil fuels to “carbon-neutral,” renewable energy platform would be A) virtually impossible and B) very expensive. It would cause $200 million in losses to Wisconsin farmers, while clobbering the state’s iconic dairy industry with $2.5 billion in additional costs, the study found.
The report notes Energy research firm Wood Mackenzie estimates that the greening of the U.S. power sector would come with a $4.7 trillion price tag, including around $1.5 trillion to add 1,600 gigawatts of wind and solar capacity and $2.5 trillion of investments in 900 gigawatts of storage. Another $700 billion is estimated for new high transmission power lines to move that electricity from sun-drenched deserts and windswept plains to the urban areas where it would be used.
Biden’s transition website insists his proposals on climate change would create “millions of good, union jobs.” In fact, it seems about everything surrounding his economic plans is built on creating “good, union jobs.” Those jobs, of course, would significantly raise the cost of doing business in government and the government-led private sector, ultimately killing jobs.
Team Biden also has its sights set on “zero-emissions public transportation options through flexible federal investments with strong labor protections.” In short, bringing back the Obama administration boondoggles, like Milwaukee Mayor Tom Barrett’s wasteful street car and California’s money suck high-speed rail project that has soared to about $80 billion amid delays pushing the opening back by a decade.
“(Boondoggle) is an apt description for a high-speed rail project that has been plagued from the start by fanciful assumptions and the inability to identify a funding source for the vast majority of the project,” Adam B. Summers, a research fellow at the Independent Institute wrote in a column for the Orange County Register.