$100 billion jolt of ‘green stimulus’

A big chunk of the nearly $900 billion economic rescue package may go to alternative energy and environmental projects. Who will benefit, and is it enough?

NEW YORK (CNNMoney.com) — A short-term booster shot for the economy? Or a complete rethinking of the way businesses and individuals consume energy?

Those are the crucial questions as Congress debates the more than $100 billion in initiatives that are currently part of the nearly $900 billion stimulus package.


As it stands, the bill would use tax cuts and government spending for a wide range of projects – everything from building wind farms to helping you replace your energy-hogging refrigerator.

The plan has critics on both sides.

Some say the spending will take too long to kick in to really help the economy, and that the government is making decisions that are better made by the free market.

Others say it doesn’t go far enough: If the country is serious about ditching its dependence on oil, the thinking goes, it’s got to pony up more cash to develop alternatives.

CNN