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Biden reinforces his environmental plan to create millions of jobs by decree

US President Joe Biden signed several executive orders Wednesday to address climate change and its transition to a clean energy economy.

The decrees included establishing climate change as a national security priority. It aims to conserve at least 30% of federal lands and oceans by 2030, and cancelling new oil and gas contracts on public lands and waters.

Biden’s actions also focus on job creation and environmental justice for communities disproportionately affected by climate change.

In this way, in coordination with the objectives of its “American Rescue Plan”, of 1.9 billion dollars, and its ambitious “Recovery Plan to Rebuild Better”, they join efforts to create jobs related to clean energy, a fundamental pillar of the Democrat. More details will be offered next month.

One of the decrees requires federal agencies to access carbon-free electricity and emission-free electric vehicles to create well-paying union jobs and stimulate renewables.

Such purchases must be “Made in America”, of national origin, to stimulate US manufacturing.

At the same time, federal agencies must ensure that any jobs created with funds to tackle the climate crisis are quality jobs and give the option of joining a union.

 

The IMF deems GDP to expand by 5.1%

Biden’s cabinet seeks to build a modern and sustainable infrastructure while restoring scientific integrity in the federal government. The orders promote the president’s program to reduce carbon emissions within the power sector by 2035 and zero emissions by 2050.

All of this coincides with a new preliminary analysis by the International Monetary Fund. It concluded that Biden’s American Rescue Plan could boost US economic growth by 5% over three years.

Gita Gopinath, a chief economist at the institution, told Reuters that measures in the stimulus package proposed by the Democrat could add up to 1.25% to US growth in 2021 alone. The IMF projects GDP to expand by 5.1% after a contraction of 3.4% in 2020. The institution expects an increase of 2.5% in 2022 if more aid were not approved.

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This adds to a growing number of economists and experts who believe that the Biden Administration plan is critical to coping with recovery fatigue.

Moody’s Analytics, in a parallel analysis, concluded that the Rescue Plan would help create 7.5 million jobs in 2021. It would double economic growth and return the US to full employment a year earlier than expected. Biden’s proposals have also received support from the US Chamber of Commerce and the Business Roundtable, representing nearly 200 of the nation’s top business leaders.

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