WASHINGTON—February 1, 2016—Green America, the nation’s leading green economy organization, strongly supports an amendment (#3102) to the Senate Energy Bill (S. 2012) introduced by Senator Tom Udall (D-N.M.) today to advance Clean Energy Victory Bonds – the first step in allowing all Americans to invest in a savings bond-like way in America’s clean energy future.
The amendment will instruct the Treasury Department to make recommendations for how to proceed with the issuing and promotion of Clean Energy Victory Bonds. The amendment also instructs Treasury to determine how to use the proceeds to finance clean energy projects that provide additional support to existing federal financing programs available to states for energy efficiency upgrades and clean energy deployment, and provides funding for clean energy investments by the Department of Defense and other federal agencies. These investments would result in full repayment to the Treasury Department.
“Senator Udall’s amendment opens a pathway for all Americans to invest in a clean energy future,” said Green America Executive Co-Director Todd Larsen. “Just like Victory Bonds ensured U.S. success in World War II, Clean Energy Victory Bonds will help to maintain the U.S. as a leader in clean energy technology while also protecting our energy security.”
“Clean Energy Victory Bonds will offer a completely safe investment opportunity available for as little as $25 that will help create competitively paying jobs across the country,” said Green America Executive Co-Director Fran Teplitz. “They will expand clean energy and energy efficiency technologies without raising taxes. Senator Udall’s amendment creates a way forward for U.S. clean energy leadership that all Americans can support.”
“Clean Energy Victory Bonds allow Americans to invest in one of the fastest growing sectors in the global economy and provide funding to secure a sustainable energy future, create jobs, and regain our competitive advantage in clean energy technology,” said David Levine, CEO and co-founder of the American Sustainable Business Council, which has a membership spanning more than 200,000 businesses. “We applaud Senator Udall for his vision and leadership on bringing this amendment to the floor of the U.S. Senate.”
Clean Energy Victory Bonds provide the following benefits:
- Help create 1 million clean energy jobs nationwide.
- Enhance U.S. energy security by decreasing reliance on foreign oil.
- A completely safe investment available to all Americans for as little as $25. Clean Energy Victory Bonds would be Treasury Bonds, backed by the full faith and credit of the U.S. government.
- Build U.S. businesses across the country that manufacture and install clean energy and energy efficiency technologies.
- Maintain the United States’ competitive advantage in clean energy technologies.
- Provide a revenue-neutral way for the U.S. Government to support clean energy and energy efficiency, since all the programs supported by the bonds will result in repayment to the U.S. government of funds leant out.
- Build the clean energy economy without raising taxes.
ABOUT GREEN AMERICA
Green America is the nation’s leading green economy organization. Founded in 1982, Green America provides the economic strategies, organizing power and practical tools for businesses and individuals to solve today's social and environmental problems. http://www.GreenAmerica.org.
The American Sustainable Business Council (www.asbcouncil.org) advocates for policy change and informs business owners and the public about the need and opportunities for building a vibrant, sustainable economy. Through its national member network it represents more than 200,000 businesses and more than 325,000 entrepreneurs, executives, managers and investors.
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