Clean Energy Victory Bond Push in Congress Would Generate $150 Billion in Financing, 1 Million Jobs
Updating WWII “War Bond” Model to Spark Job Creation, Energy Security, Clean Energy, and Increased Energy Efficiency.
It's Official. On April 8th, Rep. Zoe Lofgren (D-CA) and Rep. Doris Matsui (D-CA), along with 15 co-sponsors, introduced the Clean Energy Victory Bonds Act of 2014 in the House of Representatives.
The brainchild of Green America's Climate Action program, the Clean Energy Bonds Act is modled after of the most successful fundraising efforts in US history. During World War II, millions of Americans purchased over $185 billion in Victory Bonds (over $2 trillion in today's dollars), which were issued by the United States Treasury to finance the war effort.
Likewise, government-issued Clean Energy Vicotry Bonds (CEVBs) would help fund renewal-energy and energy-efficiency solutions to the climate-related crises we face, such as rising sea levels and extreme weather events like Hurricane Sandy, which put the US infrastructure and economy at risk.
Clean Energy Victory Bonds will allow Americans to combat the climate crisis and invest in a clean energy future for as little as $25. The sale of the bonds is expected to raise up to $50 billion, which would leverage an additional $100 billion from private investors. The money raised would fund essential tax credits for renewal sources and extend them for a decade, including the Production Tax Credit for wind energy, the Solar Investment Tax Credit, the Residential Energy Efficiency Tax Credit, and the Plug-in Electric Vehicle Grants Program.
Investing in clean-energy technology spurs economic development and job creation, protects our environment, and ensures that the United States remains a world leader in the clean energy economy." said Rep. Matsui upon the bill's introduction. By providing an opportunity to all Americans who support renewable energy to invest in proven technologies, Clean Energy Victory Bonds allow us to move forward towards a cleaner and more secure future for our nation.
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Posted by Administrator on 2/1/2017