The price of the Green New Deal is estimated at $ 93 trillion

A A center-right think-tank announced Monday that the "Green New Deal" resolution presented by progressive Democrats would cost up to $ 93 trillion over 10 years.

The American Action Forum, led by Douglas Holtz-Eakin, former director of the Congressional non-partisan budget office, said in a report that the proposal would cost between $ 51 billion and $ 93 trillion over 10 years.

In comparison, total government spending over the next 10 years is expected to reach less than $ 60 trillion, according to the Congressional Budget Office.

The American Action Forum's analysis indicates that the Green New Deal call to eliminate carbon emissions from the energy and transportation sectors would cost between $ 8.3 and $ 12.3 billion.

He estimates that a federal guarantee of employment proposed in the resolution would cost between $ 6,800 and $ 44.6 billion. Universal health care, another element of the Green New Deal resolution, would cost $ 36 trillion over 10 years, according to the report.

Republicans jumped on the report.

"The American Action Forum's analysis shows that the Green New Deal would bankrupt the country," said Senator John Barrasso, R-Wyo., Chairman of the Senate Committee on the Environment and Public Works.

Barrasso said the government's policy to combat climate change should focus on promoting innovation through investments in new technologies such as nuclear power advanced and carbon capture in fossil fuel power plants.

But supporters of the Green New Deal say that these targeted investments are insufficient. The authors of the resolution also stated that the report of the American Action Forum was intentionally misleading. This is because the sponsors wanted the Green New Deal to be a broad vision of the fight against climate change, details to be completed later through various bills after a debate in the relevant Congress committees .

"Any so-called" analysis "of the #GreenNewDeal this includes artificially inflated numbers that rely on lazy assumptions, incl. Policies that do not even appear in the resolution are false, "tweeted Senator Ed Markey, D-Mass., Who introduced the Green New Deal resolution. "Putting a price on a resolution of principles, no policies, is only the misinformation of Big Oil."