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Executive Summary
President Obama has in two short months set the nation in a new direction
when it comes to transitioning to a clean energy economy, stopping global
warming and protecting the environment.
The president’s proposed federal budget makes clean energy and environmental
protection cornerstones of his Fiscal Year 2010 (FY2010) budget, by doing the
following:
- Includes an estimated $646 billion in revenues over 10 years from reducing
global warming emissions and requiring polluters to pay for allowances to
pollute;
- Invests $150 billion from global warming revenues in clean energy industries
such as wind, solar and geothermal power sources and supports efforts to
increase energy efficiency. These renewable, home-grown energy sources can
provide energy now and for generations to come and will create millions of
green jobs;
- Includes $17.2 billion in revenues from the polluter pays fee, which requires
private industry to pay for the clean up of Superfund toxic waste sites;
- Invests $3.9 billion to clean up America’s lakes, rivers and other
fresh water sources. $2.4 billion of this is dedicated to the Clean Water State
Revolving Fund – an Environmental Protection Agency program that disburses
money to the states for repairs and improvements to sewage infrastructure; and
- Ends taxpayer subsidies to Big Oil, resulting in $30 billion of benefits to
taxpayers over 10 years. This report details specific environmental and
economic benefits from these proposals for Illinois, which if approved lay the
groundwork for curbing global warming pollution and protecting the environment.
This report visually displays examples of these benefits with a comprehensive
state map. Unfortunately, the proposed budget and subsequent policies to
implement these proposals face major roadblocks from Big Oil and other special
interests who are dedicated to defending the status quo. As this report shows,
the environmental and economic benefits of this budget and the policies it
assumes will benefit every state.
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