Joe Biden and Elizabeth Warren released ambitious plans this week
ONE OF Elizabeth Warren’s most formative political tangles, which prompted her transition from law professor at Harvard to senator from Massachusetts, occurred in 2005 over a bankruptcy-reform bill. Ms Warren was concerned about the repercussions for middle-class Americans, especially women, who would have a harder time filing for bankruptcy as a result of the bill. A particular target of her ire was Joe Biden, then a senator from Delaware and one of the bill’s strongest backers.
The Green New Deal has two problems. The first is that it is only skeletally sketched, with handwaving in lieu of details for the massive economic reorganisation it envisages. The second is that it includes a gratuitous list of progressive measures—including a federal jobs guarantee, a universal basic income, and universal health insurance—only tangentially related to climate policy.
But Mr Biden’s plan is ambitious. He would like the American economy to be a net-zero emitter of carbon pollution by 2050. This would be achieved in two ways, including executive orders and actions that would bypass Congress. The second way, which would require legislation, is through a $1.7trn in federal funding for what Mr Biden calls, in a Sandersesque turn of phrase, a “Clean Energy Revolution”.
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