Obama Embraces 'Green Path' in Stimulus Plan to Aid EnvironmentDec. 2 (Bloomberg) -- President-elect Barack Obama is considering a
stimulus package that will include a heavy dose of spending on
environmentally friendly projects aimed at creating “green-collar jobs” and
saving energy. Obama wants to enact a recovery package soon after his inauguration as “evidence suggests the pace of this downturn is accelerating,” Lawrence Summers, the president-elect’s pick for White House economic adviser, said yesterday. Opinions vary over how big the stimulus should be, with Senate Majority Leader Harry Reid saying $500 billion would be sufficient, while Senators Dick Durbin of Illinois, Obama’s closest Senate ally, and Charles Schumer of New York argue that an infusion of as much as $700 billion is warranted. Obama adviser Jared Bernstein and other economists say that money could help fund at least $50 billion in environmentally sound infrastructure projects that could be up and running within a few months. Among the steps along the “green path,” Bernstein said, could be a requirement that repairs made to public buildings be environmentally friendly. Article Continues: http://www.bloomberg.com/apps/news?pid=20601087&sid=aGZs6vevDXyg&refer=home
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