Senate's Going Green
The stimulus package has pretty much disappeared from the front pages with Super Tuesday upon us and the New York Giants pulling off the greatest upset since David smote Goliath. But, in case you missed it, the suggestion we echoed last week that this moment offers a rare chance to get some green projects going quickly is being trumpeted in the Senate. The House has already passed a single-purpose show-me-the-money bill that would give most of us a few hundred bucks to stimulate with. The Senate Finance Committee, meanwhile, has approved a bill that includes cash for us taxpayers but also would provide some $5.5 billion in renewable energy tax credits, energy bonds, and other encouragements to renewables and energy efficiency. Here's what like-minded groups think about it. And a recent study by the Blue-Green Alliance, a Sierra Club-United Steelworkers project, suggests that such federal encouragements could create upwards of 820,000 new jobs to boot. The President will scorn this approach no doubt, but it'll be interesting to see whether the Senators hold firm. This really is one of those historic opportunities, or so it seems to us—a chance to make concrete the argument that combating global warming offers great economic opportunities.