Project 2025’s Climate Cuts Would Cost Americans Billions Of Dollars Per Year
A new analysis reveals that Project 2025, the policy blueprint crafted by Republican operatives for a potential Trump administration, would result in a billion-dollar annual increase in household energy spending in the United States, accompanied by a billion-ton increase in emissions that warm the planet and the loss of millions of jobs in the economy.
By 2030, American households would spend roughly $240 more year on fuel and utilities if federal initiatives encouraging the switch to electric cars and cleaner electricity were eliminated. This would result in an annual increase in national costs of $32 billion over the existing trend.
In contrast, by the end of this decade, Americans will save $60 if the United States strengthens its current climate measures to the extent necessary to fulfill its 2030 commitment to halve its emissions. Over time, the savings are anticipated to increase: Household energy spending in the United States would drop by $700 annually by 2050, resulting in annual savings of $110 billion throughout the country.
The nonpartisan climate-modeling think tank Energy Innovation released its findings on Tuesday, and they provide striking new evidence against the Trump campaign’s pledge to reverse President Joe Biden’s historic climate-spending laws and increase the production of fossil fuels beyond already record levels in order to lower U.S. energy prices.
Energy Innovation’s senior director of modeling and analysis, Robbie Orvis, told HuffPost that “we’re still looking at higher household energy spending even if we increase oil and gas production in line with what’s outlined in Project 2025.”
He went on, “And that’s compared to current policies.” “Those are really, really big differences when you compare that to a continued climate leadership scenario where we’re deploying even more clean energy.”
According to the research, the United States will only reach halfway towards its commitment to the rest of the world to halve its emissions by 2030 with current policies; further laws and regulations will be needed to achieve the target.
However, by the end of this decade, Trump’s plan to eliminate current regulations would raise emissions by nearly 780 million metric tons annually, or roughly the same amount as the yearly pollution of 200 coal-fired power plants.
In contrast to a scenario in which the United States adopts sufficient new measures to fulfill its 2030 commitment, as stated by Democratic presidential hopeful Kamala Harris, Project 2025 would result in a yearly emissions increase equal to 452 coal-fired power plants.
Biden’s three industrial policy bills, the Inflation Reduction Act, the Bipartisan Infrastructure Law, and the semiconductor-focused CHIPS and Science Act, contain trillions of federal dollars. As a result, a manufacturing boom has already begun, with the announcement of numerous new factories producing solar panels and batteries.
In addition to the Project 2025 plan to remove key provisions from that law, it will reduce the number of new jobs in the US. was increased by 1.7 million by 2030, the study found but more climate measures are enforced to meet the 2030 target and add 2.2 million ― a difference of 3.9 million jobs overall.
“We have a little overlap here,” Orvis said. “The common argument is that clean energy is bad for the economy, drives up energy costs and costs jobs. That’s just not true.”