The legislation, introduced in the House by Representatives Zoe Lofgren (D-Calif. 19th District) and Doris Matsui (D-Calif. 6th District) and in the Senate by Senator Tom Udall (D-NM), calls for the government to issue up to $50 billion per year in Clean Energy Victory Bonds that all Americans could purchase for as little as $25 per bond. The funds raised from the bonds would support solar, wind, battery storage, infrastructure, and energy efficiency technologies at the state and federal level, and tax incentives and credits supporting businesses and individuals that adopt these technologies.
With the Intergovernmental Panel on Climate Change (IPCC) calling for a transition to a clean energy future in the next 12 years, and over 70 percent of the US public supporting aggressive action on climate change, Clean Energy Victory Bonds can provide a boost to the clean energy future without raising taxes. The technologies supported by Clean Energy Victory Bonds are also seen as job creators, with jobs in solar, wind and other clean energy technologies currently outpacing the growth of those in the fossil fuel sector.
The legislation has been endorsed by Green America, the American Sustainable Business Council, Union of Concerned Scientists, and National Wildlife Federation.
“Americans from all walks of life want the US to move quickly towards a clean energy future” said Todd Larsen, Green America’s executive co-director for consumer and corporate engagement. “Americans are also looking for a way to be part of climate solutions, and Clean Energy Victory Bonds will offer a safe investment, open to anyone with $25, that will support a rapid adoption of the solar, wind, and battery storage technologies that will create cleaner air and better jobs nationwide.”
Fran Teplitz, Green America’s executive co-director of business and investing, added that business leaders from the smallest companies to multinationals, are increasingly understanding the risks of climate change to their bottom lines, and the benefits of moving quickly to a clean energy future and that with Clean Energy Victory Bonds, businesses will be able to invest and in turn benefit from lower cost energy efficiency and clean energy technologies that boost their bottom lines.
Green America is a leading American green economy organization, founded in 1982 to provide economic strategies, organizing power and practical tools for businesses and individuals to solve today’s social and environmental problems.
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