New York To Spend $4 Billion Cleaning Up Environment?
New York State officials are proposing a multi-billion dollar spending plan that would use taxpayers' money on advancing clean water and air goals, plus adding green jobs to the economy.
This proposal from the New York State Legislature and Governor would make some fundamental adjustments in the Empire State that could change the way we live for decades to come.
The Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022 would authorize the state to spend up to $4.2 Billion in state funds to combat climate change and fund some of the environmental changes the state has already ordered, improve building infrastructure, make investments in disadvantaged communities, and try and reduce the impact of flooding in different areas of the state.
To address and combat the impact of climate change and damage to the environment, the "Clean Water, Clean Air, and Green Jobs Environmental Bond Act of 2022" authorizes the sale of state bonds up to four billion two hundred million dollars to fund environmental protection, natural restoration, resiliency, and clean energy projects.
-Clean Water, Clean Air, and Green Jobs Environmental Bond Justification
This is coming to a head this year because the state is actually looking to borrow these funds by selling state municipal bonds, and in order for New York to issue a bond, it has to be voted on by voters.
The bond issue is on the ballot for the 2022 Midterm Election and it ultimately gives state voters the final say.
The New York State Climate Justice Working Group has been advocating for some of these changes for years and some results have been seen already with the implementation of the Climate Leadership and Community Protection Act, which has already had an impact on New York with the state banning gas appliances, requiring new buildings to be electric, and banning gasoline engines on many vehicles.
There's no shortage of opinions on this spending plan. Some folks are for it, while others are against it.
Is this the right time for New York to add this much additional debt considering that the Empire State already has the 2nd most amount of government debt in the country?
You have a chance to help the state decide what to do during the next election.