Mr. Sanders was an early supporter of the Green New Deal, an ambitious but nonbinding congressional plan for tackling global warming and economic inequality. He is bestowing that same name upon his new plan, which calls for the United States to eliminate fossil fuel use by 2050.
It declares climate change a national emergency; envisions building new solar, wind and geothermal power sources across the country; and commits $200 billion to help poor nations cope with climate change.
Mr. Sanders said in an interview Wednesday night that his proposal would “pay for itself” over 15 years and create 20 million jobs in the process.
There is no broadly agreed-upon figure of how much needs to be spent to decarbonize the United States economy, but one study estimated that as much as $4.5 trillion could be needed just to modernize the nation’s power grid.