US Stimulus Strategy: Recommendations for a Zero-Carbon Economic Recovery
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In response to the economic fallout from the COVID-19 outbreak, Congress acted swiftly in providing critical fiscal support to American households, business owners, healthcare providers, and key industries. Congress’ actions have provided much-needed aid to many in need.
However, the consequences of COVID-19 continue to ripple through the US economy, leaving many industries with uncertain futures.
As Congress considers future stimulus packages, Rocky Mountain Institute (RMI) recommends that our nation’s leaders consider providing financial assistance for industries, technologies, and practices that improve public health, decrease costs, create enduring job opportunities, and reduce greenhouse gas emissions.
This report outlines RMI’s recommendations for four key programs that US policymakers can use to jumpstart the economy, address equity, and advance a low- or zero-carbon future for the United States:
- Build Back Better Buildings: A building retrofit program to catalyze residential and commercial building improvements at an unprecedented scale.
- Enhance Access and Electrify Mobility: Investment to prioritize pedestrians, cyclists, and public transit over the automobile, while also supporting the growth of the electric vehicle market.
- Debt Forgiveness for a Sustainable Recovery: A financial incentive program to provide companies with debt relief based on verifiable emissions reductions.
- Economic Recovery Facility for Financing Low- and Zero-Carbon Activities: A federal entity dedicated to facilitating the financing of clean energy and infrastructure projects.