The Paul-Fleming Rule for Green Growth

More specifically, we’re calling for an ambitious Green Stimulus of at least $2 trillion that creates millions of family-sustaining green jobs, lifts standards of living, accelerates a just transition off fossil fuels, ensures a controlling stake for the public in all private sector bailout plans, and helps make our society and economy stronger and more resilient in the face of pandemic, recession, and climate emergency in the years ahead. Rather than a one-time infusion of capital, this stimulus should be automatically renewed at 4% of GDP per year until the economy is fully decarbonized and the unemployment rate is consistently below 3.5%.