President Obama has in two short months set the nation in a new direction when it comes to transitioning to a clean energy economy, stopping global warming and protecting the environment.

The president's proposed federal budget makes clean energy and environmental protection cornerstones of his Fiscal Year 2010 (FY2010) budget, by doing the following:

• Includes an estimated $646 billion in revenues over 10 years from reducing global warming emissions and requiring polluters to pay for allowances to pollute;
• Invests $150 billion from global warming revenues in clean energy industries such as wind, solar and geothermal power sources and supports efforts to increase energy efficiency. These renewable, home-grown energy sources can provide energy now and for generations to come and will create millions of green jobs;
• Includes $17.2 billion in revenues from the polluter pays fee, which requires private industry to pay for the clean up of Superfund toxic waste sites;
• Invests $3.9 billion to clean up America's lakes, rivers and other fresh water sources. $2.4 billion of this is dedicated to the Clean Water State Revolving Fund ?an Environmental Protection Agency program that disburses money to the states for repairs and improvements to sewage infrastructure; and ?Ends taxpayer subsidies to Big Oil, resulting in $30 billion of benefits to taxpayers over 10 years.

This report details specific environmental and economic benefits from these proposals for Wisconsin, which if approved lay the groundwork for curbing global warming pollution and protecting the environment. This report visually displays examples of these benefits with a comprehensive state map.

Unfortunately, the proposed budget and subsequent policies to implement these proposals face major roadblocks from Big Oil and other special interests who are dedicated to defending the status quo. As this report shows, the environmental and economic benefits of this budget and the policies it assumes will benefit every state.

Visit Vision 2010: President Obama's Budget, Clean Energy & The Environment Download Page

You can download Vision 2010: President Obama's Budget, Clean Energy & The Environment in PDF format.

Wisconsin Environment Research & Policy Center
April 2009

CONCLUSION
President Obama’s proposed budget paves the way for America to transition to a clean energy economy, stop global warming and protect the environment. Making industries pay for allowances to pollute is a critical step toward reducing global warming pollution to levels needed to stop global warming. Revenues gained from such an action would, in addition to reducing costs to consumers, fund investments in renewable, home-grown energy sources that will make the country more energy secure now and in the future.

The proposed budget sets the stage to reinstate the polluter pays rule, which would ensure polluting industries pay for the toxic legacy they’ve created at Superfund sites throughout the nation. Funding the Clean Water SRF would enable states to make much-needed sewage repairs and upgrades, making our lakes, rivers and streams safer and cleaner. Ending subsidies to Big Oil would free billions of taxpayer dollars that could be more wisely invested rather than underwriting windfall profits for oil corporations.

The time for action on these issues is now. The president’s proposed budget would bring significant environmental and economic benefits to communities in this state, and put America on a path to a cleaner, cooler, more energy secure future.

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