Rep. James Sensenbrenner (R-WI), ranking member on the House Select Committee on Energy Independence and Global Warming, from The National Journal, “Climate Costs Would Add to Mounting U.S. Debt“:
Climate talks have already stalled over the demands of poor countries who expect rich nations to provide between $100 billion and $200 billion each year for energy technology and other climate mitigation costs. In contrast, developed nations, including the U.S., have proposed a $10 billion “starter fund.”
Countries like China and India have said nations like the U.S. need to provide funding in the neighborhood of 1 percent of GDP. For the U.S., that price tag is $140 billion a year, which is in addition to the $28 billion a year the U.S. already spends in foreign aid. For a U.S. family of four, China’s demand comes to nearly $1,900 in yearly taxes. And that’s just the beginning.
How would this create jobs in the U.S. manufacturing sector?
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