![]() For example, South Korea, China and India are all making green investments, but are also supporting coal as part of their economic recovery plans. Even some countries in Europe provided early bail-out funds (such as to the aviation sector) without conditions. ![]() Most other economies are somewhere in between. Instead, the Trump administration has provided support to the fossil fuel industry and rolled back environmental protections. It announced around $3 trillion in fiscal support - the most of any country - without any consideration of sustainability. The United States is at the polluting end of the spectrum. Among individual EU countries, France and Germany have announced the most green measures. About 30 per cent of its €750 billion ($891 billion) EU-wide stimulus plan and its €1.1 trillion ($1.3 trillion) 2021-2027 budget will be dedicated to climate-friendly investments. The European Union is at the greener end of the spectrum. Here’s a look at the state of green recovery efforts around the world: Which countries are greening their economic recovery plans? Still, there are some inspiring examples of a green recovery emerging - initiatives that will reduce emissions while creating jobs, rebooting economies and improving human health. Only 13 per cent of the fossil fuel spending included any kind of environmental conditions. In another analysis, a consortium of 14 research institutions found that G20 countries pledged $207 billion to fossil fuels in their stimulus measures (as of September 9, 2020) compared to only $137 billion for clean energy. Now is the time to boldly reimagine our world to be more sustainable, resilient and healthy. The time for incrementalism and reactionism is past. In 14 of 18 countries analysed by Vivid Economics, stimulus spending that could hurt the environment outweighed spending that could help. The question is: Will the impact of stimulus spending be positive or negative?Įarly signs suggest it’s largely the latter. While most of it will prioritise healthcare and direct support to the unemployed, about 30 per cent of stimulus packages are being spent in sectors that impact the environment. Charles Schumer, D-N.Y., has also criticized the mailings, saying there were "countless better uses" for the money.Governments have already announced $11.8 trillion in fiscal stimulus in response to the Covid-19 health and economic crisis, more than three times the amount spent in response to the Great Recession of 2008-09. "These special letters remind people that they won't need to do anything more than file a 2007 tax return in order to put the stimulus payment process in motion," Acting IRS Commissioner Linda Stiff said in a recent news release.Ĭongress and President Bush approved a stimulus package that will mean one-time payments of $600 for individuals and $1,200 for married couples, along with $300 payments for each child younger than 17. The IRS is mailing letters to 130 million Americans who filed a 2006 tax return, notifying them that they must file a tax return this year to receive a stimulus check. The IRS should instead ask Congress for permission to use this funding to crack down on fraud and close the tax gap." "Congress should be ashamed of itself for approving a 'stimulus' bill that included funding for this wasteful mailing. "Perhaps the IRS should also inform taxpayers of their share of the $9 trillion national debt, which as of today is more than $30,000 per American," Coburn said. Tom Coburn criticized the Internal Revenue Service on Tuesday for spending $42 million to notify taxpayers that they'll receive an economic stimulus check if they file a tax return this year.Ĭoburn, R-Muskogee, said the letters were unnecessary.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |