Ways and Means; Energy and Commerce
Co-Sponsors: 15 – 15 Democrats
Creates a National Green Bank that would be capitalized by an initial sale of $10 billion in Green Bonds, with options for direct congressional appropriations or further bond sales. In turn, it would capitalize eligible green banks set up by states, counties, and municipalities. These local green banks would be able to make financing in the form of direct support or credit enhancement for eligible energy efficiency, solar, wind, geothermal, biomass, hydropower, fuel cell, and alternative fuel vehicles and infrastructure projects, among others. The bill contains funding for states without existing green banks to set them up. These banks have been successful at the state level in reducing emissions and creating jobs.
(Summary from New Democrat Coalition)
This bill addresses Green New Deal goal 2(I)p.9 to mitigate and manage long-term effects of pollution and climate change by funding localized strategies