Green jobs

Jobs for Main Street Act of 2009

hmoroz — Thu, 17 Dec 2009 12:55:34 -0500

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of workers who will run out of unemployment insurance by January if unemployment benefits are not extended: 1 million

Number who will run out by March: 3 million

Economic activity generated by each $1 of cuts to taxes on labor when interest rates are zero: -$0.81

Economic activity generated by each $1 of government spending when interest rates are zero: $2.27

Average monthly COBRA premium with the current government subsidy: $389

Average monthly COBRA premium without the current government subsidy: $1,111

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. While the American Recovery and Reinvestment Act stimulated economic growth and created between 600,000 and 1.2 million additional jobs, the employment situation remains grim. The unemployment rate stands at an extraordinary 10.0 percent and more than 15 million people are jobless. There are six job openings for every worker who wants a job, while almost 40 percent of the unemployed have been jobless for longer than 26 weeks. In short, the stimulus package was necessary, but insufficient. Further, several of the most important provisions in the stimulus package, including extended unemployment benefits and health insurance assistance for the unemployed, are set to expire before the employment outlook has improved.

The Jobs for Main Street Act expands assistance for the aspiring middle-class and middle class Americans affected most by the economic downturn while allocating additional funds that can create and save jobs quickly. Without the Act’s extension of unemployment insurance, 1 million workers will run out of unemployment insurance in January and 3 million will run out by the first quarter of the year. Unemployed families relying on subsidized COBRA insurance could see their premiums skyrocket from $389 a month to $1,111 per month. Further, workers who lose their jobs in 2010 would receive no help with their COBRA premiums. Extending these invaluable programs would not only continue to assist cash-strapped middle-class families, but would help ensure that these households can continue to support the economy by spending on everyday necessities.

Additional spending included in the Jobs for Main Street Act will create jobs and further stimulate the economy. Recent research by the Federal Reserve Bank of New York demonstrates that government spending at this time will result in well over $2 in economic activity for every dollar spent, although new tax cuts would in fact shrink the economy. Aid to states for infrastructure projects, education, and public safety will create and maintain employment and preserve important services. These funds will prevent cash-strapped states from cutting public services at a time Americans most need them and will encourage additional public sector hiring. Indeed, funding for education in the original stimulus package similar to that included in the Jobs for Main Street Act created or saved more than 300,000 jobs. The maintenance of the increased federal share of Medicaid payments will serve a similar function in addition to preventing reductions in health care for low-income children and adults. The Jobs for Main Street Act invests significant resources in areas that can generate both economic activity and jobs for middle-class Americans.

Quotes from Experts

Beyond this Bill

Additional Resources

“Unemployment Insurance,” from the National Employment Law Project

“Unemployment Insurance Benefits: Where Do We Go From Here?” from the Senate Finance Committee

Testimony of LaDonna Pavetti of the Center on Budget and Policy Priorities on the Impact of the Recession and the Recovery Act on Social Safety Net Programs, before the House Budget Committee

American Clean Energy Leadership Act of 2009

hmoroz — Tue, 13 Oct 2009 17:09:36 -0400

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Quotes from Experts

Beyond this Bill

Additional Resources

Clean Energy Jobs and American Power Act of 2009

hmoroz — Tue, 13 Oct 2009 17:05:07 -0400

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Quotes from Experts

Beyond this Bill

Additional Resources

American Clean Energy and Security Act of 2009

hmoroz — Tue, 14 Apr 2009 12:59:52 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Percentage change by 2050 in emissions relative to 2005 if the American Clean Energy and Security Act is not enacted: +18

Percentage change by 2050 in emissions relative to 2005 if the American Clean Energy and Security Act is enacted: -8

Overall minimum annual benefit to the average household from the American Clean Energy and Security Act: $80

Projected percentage decrease in consumer spending on utility bills due to the American Clean Energy and Security Act: 7

Projected net increase in jobs triggered by clean-energy investments included in the American Clean Energy and Security Act and the stimulus act: 1.7 million

Projected number of jobs that the American Solar Energy Society estimates would be created by 2030 with aggressive investment in the renewable energy and energy efficiency industry: 37 million

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. The recession currently gripping the United States economy is the culmination of nearly a decade of poor job growth, stagnant wages, and growing inequality that has squeezed middle-class households across the country. An economy overly reliant on the profits of the financial services sector and driven by resource-intensive industries saw real median household income decline by 0.6 percent between 2000 and 2007 and the poverty rate increase by 1.2 percent. The percentage of GDP belonging to wages and salaries in 2006 was never lower. Middle-class Americans’ standard of living is further threatened by human-caused climate change, which will result in more disease, heat-related death, extreme weather, and economic disruption if left unchecked.

The American Clean Energy and Security Act is a significant shift of government investment away from an unsustainable economy and environment that have not worked for middle-class families to ones that will be based on sustainable, equitable growth and good jobs. The Act will reduce the economy’s reliance on dirty fuels while for the first time making polluters pay the true cost of their emissions.

Along with clean-energy investments made in the stimulus package passed earlier this year, the American Clean Energy and Security Act will create approximately 1.7 million jobs, reducing the unemployment rate by about a percentage point. Further investment in clean energy would create even more jobs: the American Solar Energy Society estimates that aggressive investment in energy efficiency will result in the creation of 37 million new jobs by 2030. The Act’s renewable electricity standard alone would generate an estimated 185,000 new jobs by 2020. But middle-class households are in need not only of lots of jobs, but of lots of good jobs, ones that offer solid wages, access to health care, vacation, and paid sick days. Significantly, the “green jobs” created by the American Clean Energy and Security Act are concentrated in the middle portion of the wage distribution (they are neither particularly high-, nor particularly low-paying), they are unionized at a higher rate, and they are clustered in the manufacturing and construction trades, two industries with high unionization rates that have experienced severe job loss in recent years. These are all characteristics of jobs that enable households to achieve a middle-class standard of living.

The Act begins the transformation to a sustainable economy that works for middle-class Americans responsibly by ensuring that most lower- and moderate-income families do not experience any hardship from the cap-and-trade program. The nonpartisan Congressional Budget Office finds that the annual cost of the cap-and-trade program in 2020 would be $175 per household, while households in the lowest income quintile (the lowest 20 percent of earners) would receive a net benefit of $40 from the program because of energy tax rebates. In fact, when the benefits of energy-efficiency provisions are included in the calculation of the legislation’s cost to each household – the Act would decrease household spending on utility bills by 7% – the Environmental Protection Agency finds that the average household would gain $80 to $100 per year.

The American Clean Energy and Security Act will achieve many laudable environmental goals, from reducing deforestation to cutting back on the emissions that cause harm to our health, to our economy, and to our natural surroundings. The Act will do this while refocusing government investment on productive industries that support a robust middle class.

Quotes from Experts

Beyond this Bill

Additional Resources

“The American Clean Energy and Security Act (Waxman-Markey Bill),” from the Pew Center on Global Climate Change

“Green Investments and the Labor Market: How many jobs could be generated and what type?” from the Economic Policy Institute

“Global Climate Change Impacts in the United States,” from the U.S. Global Change Research Program

American Recovery and Reinvestment Act of 2009 - Conference Report

hmoroz — Tue, 17 Feb 2009 19:06:44 -0500

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Unemployment rate in early 2010, if current laws and policies governing federal spending and taxes do not change, according to the Congressional Budget Office: 9.2%

Reduction in unemployment rate in 2010 if the American Recovery and Reinvestment Act is enacted, according to the Congressional Budget Office, Mark Zandi of Moody’s Economy.com, and White House economic advisers, respectively: 1.9%, 2.1%, 1.8%

Increase in GDP from spending $1 on extended unemployment insurance benefits, in dollars: 1.63

Increase in GDP from spending $1 on accelerated depreciation, which provides businesses a tax break for new investment, in dollars: 0.25

Percentage of spending and tax cuts that will take effect by the end of 2010, according to the Congressional Budget Office: 74%

Percentage reduction in aid to states made by the conference report of the American Recovery and Reinvestment Act compared to the House version: 32%

Overview/Summary

Middle Class Position Analysis

Middle Class Supports.Economic conditions are bleak. The Congressional Budget Office estimates that if the economy continues on its current course, both the length and depth of the current downturn will be the worst since the Great Depression. For middle-class Americans, this means job and wage cuts, loss of health insurance, and, simply, a daily struggle to keep up with everyday costs like mortgage payments and college tuition.

The Congressional Budget Office estimates that if current economic conditions persist the unemployment rate could reach as high as 9.2% by 2010. With 46 million Americans already uninsured, the Kaiser Family Foundation reckons that if unemployment averages just 7% in 2009 (the current rate is 7.2%), the number of uninsured will increase by 2.6 million with an additional 2.4 million individuals enrolled in Medicaid and SCHIP. Indeed, state governments are struggling to provide the increased services needed to keep the swelling ranks of unemployed, uninsured individuals from falling out of the middle class. But the current economic climate has left states with decreased revenue from income, sales, and property taxes: 46 states face budget shortfalls with combined budget gaps of $350 billion through 2011. To confront these gaping budget holes, more than 20 states have implemented or are considering cuts to health insurance programs; the same is true of K-12 and early education programs and of funds for public colleges and universities.

Beyond the decidedly dire short-term outlook, economic improvement is probably quite far off. Douglas Elmendorf, director of the Congressional Budget Office, has testified that “economic recovery is likely to be slow and protracted.” Thus, programs that address longer-term concerns – investment in infrastructure and green technology are two primary examples – are as important as an immediate, stimulative jolt to the economy.

The American Recovery and Reinvestment Act ties together measures designed to assist middle-class households struggling to make ends meet, provisions that will provide an immediate economic stimulus, and investment that can help set the stage for an economy built on energy efficiency and durable infrastructure. Economists generally agree that the legislation will save around 3 or 4 million jobs by 2010, while increasing economic output. Indeed, the Congressional Budget Office, Mark Zandi of Moody’s Economy.com, and White House economic advisers all project that the legislation will reduce the unemployment rate by around 2%. Extended unemployment insurance will allow 6.7 million people to collect benefits. Importantly, aid to state governments for Medicaid and education programs would shore up budget gaps and help prevent cuts to vital services.

While assisting those most at need during the economic downturn, extended unemployment insurance and state fiscal assistance also generate the most “bang for their buck” in terms of stimulus because they funnel money into the hands of the people most likely to spend it. Extended unemployment insurance generates an estimated $1.63 in economic activity for each dollar spent; aid to state governments generates $1.38. In contrast, though they act more quickly than spending measures, tax cuts generate less stimulus. The Making Work Pay, Child, and Earned Income tax credits will help keep more than 2.3 million Americans out of poverty and the American Opportunity credit will make 3.8 million more students eligible for a higher education tax break. These are important measures that will assist aspiring middle-class and middle-class Americans struggling to make ends meet. But the expansions are temporary and tax cuts, even when refundable and directed at the low-income individuals most likely to spend them, are less effective stimulus measures. Worst of all, though, are tax cuts for businesses like accelerated depreciation and carryback loss provisions that have little economic benefit.

Despite concern that the spending included in the American Recovery and Reinvestment Act will be delayed, perhaps a valid concern due to the legislation’s size and complexity, the Congressional Budget Office estimates that 74% of spending would occur between 2009 and 2010. Indeed, funds for investment in infrastructure and energy efficiency, though perhaps more complicated to spend, are a critical step in longer term economic recovery. Beyond its stimulative value – infrastructure spending’s “bang for the buck” is $1.59 – the United States desperately needs new infrastructure to compete in the global economy. The American Society of Civil Engineers estimates that $2.2 trillion in infrastructure spending is now necessary. The funding for infrastructure projects included in the legislation is a first step in addressing this deficiency and funds devoted to high-speed rail are particularly welcome. Similarly, spending on a modernized electricity grid, retrofitted low-income housing, and weatherized homes creates the framework for a future economy less reliant on fossil fuels and, indeed, based on green technology.

Limitations on executive compensation and bonuses are a first step in establishing the accountability that has been missing from the financial bailout. Still, the bill does not set forth a comprehensive plan to address the foreclosure crisis that includes a moratorium on foreclosures, a mechanism to require modification of mortgages, and a change to the bankruptcy code to permit modification of mortgages on primary residences. Funds for the Neighborhood Stabilization Program are a necessary, but insufficient, step in mitigating the widespread negative effects that foreclosures can have on entire neighborhoods and communities.

Quotes from Experts

Beyond this Bill

Additional Resources

Recovery.gov, the official website of the American Recovery and Reinvestment Act

“Recession and Recovery,” from the Center on Budget and Policy Priorities

“Impact of Economic Turmoil on Health Coverage and State Medicaid Programs,” from the Kaiser Commission on Medicaid and the Uninsured

American Recovery and Reinvestment Act of 2009 - Senate Version

hmoroz — Tue, 10 Feb 2009 16:24:04 -0500

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Unemployment rate in early 2010, if current laws and policies governing federal spending and taxes do not change, according to the Congressional Budget Office: 9.2%

Increase in GDP from spending $1 on extended unemployment insurance benefits, in dollars: 1.63

Increase in GDP from spending $1 on accelerated depreciation, which provides businesses a tax break for new investment, in dollars: 0.25

Percentage reduction in aid to states made by the Senate version of the American Recovery and Reinvestment Act: 50.1%

Percentage reduction in Head Start and Early Head Start funds made by the Senate version of the American Recovery and Reinvestment Act: 50%

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. Economic conditions are bleak. The Congressional Budget Office estimates that if the economy continues on its current course, both the length and depth of the current downturn will be the worst since the Great Depression. For middle-class Americans, this means job and wage cuts, loss of health insurance, and, simply, a daily struggle to keep up with everyday costs like mortgage payments and college tuition.

The Congressional Budget Office estimates that if current economic conditions persist the unemployment rate could reach as high as 9.2% by 2010. With 46 million Americans already uninsured, the Kaiser Family Foundation reckons that if unemployment averages just 7% in 2009 (the current rate is 7.2%), the number of uninsured will increase by 2.6 million with an additional 2.4 million individuals enrolled in Medicaid and SCHIP. Indeed, state governments are struggling to provide the increased services needed to keep the swelling ranks of unemployed, uninsured individuals from falling out of the middle class. But the current economic climate has left states with decreased revenue from income, sales, and property taxes: 45 states face budget shortfalls with combined budget gaps of $350 billion through 2011. To confront these gaping budget holes, more than 20 states have implemented or are considering cuts to health insurance programs; the same is true of K-12 and early education programs and of funds for public colleges and universities.

The American Recovery and Reinvestment Act ties together measures designed to assist middle-class households struggling to make ends meet, provisions that will provide an immediate economic stimulus, and investment that can help set the stage for an economy built on energy efficiency and durable infrastructure. Economists generally agree that the legislation will save around 3 or 4 million jobs by 2010, while increasing economic output. Indeed, the Congressional Budget Office , Mark Zandi of Moody’s Economy.com, and White House economic advisers all project that the legislation will reduce the unemployment rate by around 2%. Extended unemployment insurance will allow 6.7 million people to collect benefits. Importantly, aid to state governments for Medicaid and education programs would shore up budget gaps and help prevent cuts to vital services.

While assisting those most at need during the economic downturn, extended unemployment insurance and state fiscal assistance also generate the most “bang for their buck” in terms of stimulus because they funnel money into the hands of the people most likely to spend it. Extended unemployment insurance generates an estimated $1.63 in economic activity for each dollar spent; aid to state governments generates $1.38. In contrast, though they act more quickly than spending measures, tax cuts generate less stimulus. The Making Work Pay, Child, and Earned Income tax credits will help keep more than 2.1 million Americans out of poverty and the American Opportunity credit will make 3.8 million more students eligible for a higher education tax break. These are important measures that will assist aspiring middle-class and middle-class Americans struggling to make ends meet. But the expansions are temporary and tax cuts, even when refundable and directed at the low-income individuals most likely to spend them, are less effective stimulus measures. Worst of all, though, are tax cuts for businesses like accelerated depreciation and carryback loss provisions that have little economic benefit.

Despite concern that the spending included in the American Recovery and Reinvestment Act will be delayed, perhaps a valid concern due to the legislation’s size and complexity, the Congressional Budget Office estimates that 78% of spending would occur between 2009 and 2010. Indeed, funds for investment in infrastructure and energy efficiency, though perhaps more complicated to spend, are a critical step in longer term economic recovery. Beyond its stimulative value – infrastructure spending’s “bang for the buck” is $1.59 – the United States desperately needs new infrastructure to compete in the global economy. The American Society of Civil Engineers estimates that $2.2 trillion in infrastructure spending is now necessary. The funding for infrastructure projects included in the legislation is a first step in addressing this deficiency. Similarly, spending on a modernized electricity grid, retrofitted low-income housing, and weatherized homes creates the framework for a future economy less reliant on fossil fuels and, indeed, based on green technology.

Requirements for application of TARP funds to foreclosure prevention and for limitations on executive compensation and bonuses are first steps in establishing the accountability that has been missing from the financial bailout. Still, the bill does not set forth a comprehensive plan to address the foreclosure crisis that includes a moratorium on foreclosures, a mechanism to require modification of mortgages, and a change to the bankruptcy code to permit modification of mortgages on primary residences.

Quotes from Experts

Beyond this Bill

Additional Resources

“Recession and Recovery,” from the Center on Budget and Policy Priorities

“The State of the Economy and Issues in Developing an Effective Policy Response,” Statement of Douglas W. Elmendorf before the House Committee on the Budget

“Impact of Economic Turmoil on Health Coverage and State Medicaid Programs,” from the Kaiser Commission on Medicaid and the Uninsured

American Recovery and Reinvestment Act of 2009 - House Version

hmoroz — Thu, 29 Jan 2009 11:59:07 -0500

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Unemployment rate in early 2010, if current laws and policies governing federal spending and taxes do not change, according to the Congressional Budget Office: 9.2%

Number of individuals that expanded health insurance benefits included in the legislation will keep from losing health insurance: 8.5 million

Increase in GDP from spending $1 on extended unemployment insurance benefits, in dollars: 1.63

Increase in GDP from spending $1 on accelerated depreciation, which provides businesses a tax break for new investment, in dollars: 0.25

Number of dollars spent on highways for every four dollars spent on transit: 10

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. Economic conditions are bleak. The Congressional Budget Office estimates that if the economy continues on its current course, both the length and depth of the current downturn will be the worst since the Great Depression. For middle-class Americans, this means job and wage cuts, loss of health insurance, and, simply, a daily struggle to keep up with everyday costs like mortgage payments and college tuition.

The Congressional Budget Office estimates that if current economic conditions persist the unemployment rate could reach as high as 9.2% by 2010. With 46 million Americans already uninsured, the Kaiser Family Foundation reckons that if unemployment averages just 7% in 2009 (the current rate is 7.2%), the number of uninsured will increase by 2.6 million with an additional 2.4 million individuals enrolled in Medicaid and SCHIP. Indeed, state governments are struggling to provide the increased services needed to keep the swelling ranks of unemployed, uninsured individuals from falling out of the middle class. But the current economic climate has left states with decreased revenue from income, sales, and property taxes: 45 states face budget shortfalls with combined budget gaps of $350 billion through 2011. To confront these gaping budget holes, more than 20 states have implemented or are considering cuts to health insurance programs; the same is true of K-12 and early education programs and of funds for public colleges and universities.

The American Recovery and Reinvestment Act ties together measures designed to assist middle-class households struggling to make ends meet, provisions that will provide an immediate economic stimulus, and investment that can help set the stage for an economy built on energy efficiency and durable infrastructure. Economists generally agree that the legislation will save around 3 or 4 million jobs by 2010, while increasing economic output. Indeed, the Congressional Budget Office, Mark Zandi of Moody’s Economy.com, and White House economic advisers all project that the legislation will reduce the unemployment rate by around 2%. Extended unemployment insurance will allow 6.7 million people to collect benefits. Expanded COBRA and Medicaid insurance programs will keep 8.5 million individuals from losing insurance. Importantly, aid to state governments for Medicaid and education programs would shore up budget gaps and help prevent cuts to vital services.

While assisting those most at need during the economic downturn, extended unemployment insurance and state fiscal assistance also generate the most “bang for their buck" in terms of stimulus because they funnel money into the hands of the people most likely to spend it. Extended unemployment insurance generates an estimated $1.63 in economic activity for each dollar spent; aid to state governments generates $1.38. In contrast, though they act more quickly than spending measures, tax cuts generate less stimulus. The Making Work Pay, Child, and Earned Income tax credits will help keep more than 2.5 million Americans out of poverty and the American Opportunity credit will make 3.8 million more students eligible for a higher education tax break. These are important measures that will assist aspiring middle-class and middle-class Americans struggling to make ends meet. But the expansions are temporary and tax cuts, even when refundable and directed at the low-income individuals most likely to spend them, are less effective stimulus measures. Worst of all, though, are tax cuts for businesses like accelerated depreciation and carryback loss provisions that have little economic benefit.

Despite concern that the spending included in the American Recovery and Reinvestment Act will be delayed, perhaps a valid concern due to the legislation’s size and complexity, the Congressional Budget Office estimates that 85% of the spending will occur between 2009 and 2011. Indeed, funds for investment in infrastructure and energy efficiency, though perhaps more complicated to spend, are a critical step in longer term economic recovery. Beyond its stimulative value – infrastructure spending’s “bang for the buck” is $1.59 – the United States desperately needs new infrastructure to compete in the global economy. The American Society of Civil Engineers estimates that $2.2 trillion in infrastructure spending is now necessary. The $160 billion for infrastructure projects included in the legislation is a first step in addressing this deficiency. Similarly, spending on a modernized electricity grid, retrofitted low-income housing, and weatherized homes creates the framework for a future economy less reliant on fossil fuels and, indeed, based on green technology.

Quotes from Experts

Beyond this Bill

Additional Resources

“Recession and Recovery,” from the Center on Budget and Policy Priorities

“The State of the Economy and Issues in Developing an Effective Policy Response,” Statement of Douglas W. Elmendorf before the House Committee on the Budget

“Impact of Economic Turmoil on Health Coverage and State Medicaid Programs,” from the Kaiser Commission on Medicaid and the Uninsured

Comprehensive American Energy Security and Consumer Protection Act of 2008

hmoroz — Fri, 19 Sep 2008 17:12:59 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Percentage increase in annual crude oil production in 2030 if restrictions on access to drilling in the Outer Continental Shelf are lifted, according to the Energy Information Administration: 7

Projected impact of this increased production on the price of oil: “insignificant”

Percent of world’s known reserves in the United States: 1.58%

Percentage of carbon emissions in the United States from residential and commercial buildings: 39

Number of new jobs that the American Solar Energy Society found were generated by U.S. renewable energy and energy efficiency industries in 2006: 8.5 million

Estimated number of jobs created in 2030 in U.S. renewable energy and energy efficiency industries, assuming no policy changes before 2030: 16 million

Estimated number of jobs created in 2030 in U.S. renewable energy and energy efficiency industries, assuming moderate, incremental federal and state renewable and energy efficiency initiatives and favorable market conditions: 21 million

Overview/Summary

Middle Class Position Analysis

Middle Class Supports. Though the extremely high gas prices experienced this summer have eased, middle-class Americans remain strapped by a combination of difficult economic conditions that include elevated fuel costs, a tanking housing market, an endangered financial system, and widespread unemployment. The renewable energy and energy efficiency provisions adopted by the legislation – from credits for energy-efficient home appliances to green building standards and energy-conscious low-income housing – demonstrate a commitment to transforming the environment and the economy that can reduce energy costs and provide jobs for middle-class Americans struggling to make ends meet. Such measures are impotant steps in making the country more energy efficient and ensuring that the nation retains and produces more jobs in renewable energy and technology. Finally, the renewable electricity standard establishes an important incentive for electricity providers to switch to renewable energy sources, a commitment these providers have not made on their own.

The revenue-raising measures appropriately target the oil companies who have benefited grandly from high oil prices. Additionally, ethics reform is desperately needed in the Mineral Management Service after disturbing reports of oil industry influence buying in the agency.

Quotes from Experts

Beyond this Bill

Additional Resources

Clean Energy 101, from the Union of Concerned Scientists

Renewable Energy and Energy Efficiency: Economic Drivers for the 21st Century, from the Appollo Alliance

Impacts of Increased Access to Oil and Natural Gas, from the Energy Information Administration

Renewable Energy and Job Creation Act of 2008

hmoroz — Thu, 22 May 2008 17:49:06 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Percentage of the benefits of the child tax credit that went to families in the top 40% of the income distribution in 2005: 60

Maximum percentage of the benefits of the child tax credit that went to families in the lowest 20% of the income distribution in 2005: 1

Estimated number of children that the child tax credit provision in the legislation would benefit: 13 million

Estimated number of children who would become newly eligible for the child tax credit under the legislation: 2.4 million

Estimated industry revenues from renewable energy and efficiency in 2006, in dollars: 970 billion

Estimated lost investment if federal tax credits for solar and wind energy are not extended, in dollars: 19 billion

Estimated jobs in the renewable energy and efficiency industry in 2006: 8.5 million

Estimated number of jobs that could be lost if federal tax credits for solar and wind energy are not extended: 116,000

Overview/Summary

Middle Class Position Analysis

The Middle Class Supports. While politicians are proposing short-term band-aids to deal with rising fuel costs, middle-class Americans are increasingly feeling the effects of an energy policy that harms the environment and favors large oil companies. The energy tax credit expansions and extensions in the Renewable Energy and Job Creation Act are part of a long-term strategy to alleviate high fuel costs, make the country more energy efficient, and ensure that the economy retains jobs in renewable energy and technology. Indeed, a recent study demonstrated that failure to extend energy tax credits for solar and wind power could result in the loss of 116,000 jobs. With the middle class already feeling the effects of weak employment, Congress must strengthen a renewable energy and energy efficiency industry that benefits both the environment and the economy.

Aspiring middle-class families with children are in a particularly difficult situation in an economy of high food, fuel, and health care costs. The Renewable Energy and Job Creation Act’s changes to the child tax credit would make 2.4 million additional children eligible for the benefit and would increase the benefit for 10.5 million more. Expanding the income floor for the credit means that very low-income aspiring middle-class families, who currently benefit less from the credit than higher-income families, will receive the support they need to make ends meet.

The revenue raising provisions of the Renewable Energy and Job Creation Act not only make the legislation fiscally responsible, but make the tax code fairer by eliminating loopholes exploited by wealthy executives and multinational corporations.

Quotes from Experts

Beyond this Bill

Additional Resources

“Greener Pathways: Jobs and Workforce Development in the Clean Energy Economy,” from the Apollo Alliance

“Taxation and the Family: What is the child tax credit?” from the Tax Policy Center

“Families Helped by the Child Tax Credit Expansion Work Hard in Low-Paying Jobs,” from the Center for Budget and Policy Priorities

Renewable Energy and Energy Conservation Tax Act of 2008

atraub — Thu, 28 Feb 2008 14:43:06 -0500

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Cost of one barrel of crude oil the day this bill passed the House:$100.83

Date on which President Bush said, “With $55 [per barrel] oil we don't need incentives to oil and gas companies to explore. There are plenty of incentives. What we need is to put a strategy in place that will help this country over time become less dependent”: 4/14/2005

Date on which the Bush Administration nevertheless announced that the President would veto this bill: 2/26/2008

Average amount per gallon Americans paid for that gas the week this bill passed the House: $3.18

Profit made by oil company Exxon Mobil every minute in 2007, according to the Center for American Progress: $77,245

Percentage of total U.S. electricity demand that could technically be met by renewable energy resources by 2020, according to the National Renewable Energy Laboratory: 100

Overview/Summary

Middle Class Position Analysis

The Middle Class Supports: Today, as middle-class consumers struggle with the high costs of gasoline and home heating oil and are increasingly concerned about the threat of global warming, federal incentives that spur energy efficiency and promote renewable energy couldn’t be more timely. By reviving the abandoned provisions of the 2007 energy bill, this legislation offers the substantial public investment necessary to jump start the development and promotion of renewable energy sources and energy-efficient technologies. In the short term, this investment will create jobs producing renewable energy and technology. In the long term, new energy sources and more efficient technology promise environmental and public health benefits, as well as lower costs, for the American middle class. The bill also funds the investments in an appropriate way: by repealing taxpayer subsidies to the oil industry, which is already making booming profits at the expense of middle-class consumers.

Quotes from Experts

Beyond this Bill

Additional Resources

"New Energy for America: The Apollo Jobs Report for Good Jobs and Energy Independence,” from the Apollo Alliance

“Kick the Oil Habit: Stop the Subsidies” from the Center for American Progress

The Renewable Energy Policy Project

“Clean Energy,” from the Union of Concerned Scientists

Green jobs

Jobs for Main Street Act of 2009

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

American Clean Energy Leadership Act of 2009

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

Clean Energy Jobs and American Power Act of 2009

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

American Clean Energy and Security Act of 2009

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

American Recovery and Reinvestment Act of 2009 - Conference Report

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

American Recovery and Reinvestment Act of 2009 - Senate Version

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

American Recovery and Reinvestment Act of 2009 - House Version