Truth #4: Promotes “Green Banks” At a Time of Record Job Losses
What the bill does: Requires federal banking agencies and the National Credit Union Administration Board to encourage insured depository institutions and credit unions to establish and maintain “green banking” centers. These centers will provide consumers who seek information on obtaining a mortgage, home improvement loan, or home equity loan with additional information on obtaining a home energy rating or audit, financing for cost-effective energy-saving improvements, and obtaining beneficial financing terms for meeting energy efficiency standards. (H.R. 2454, American Clean Energy and Security Act of 2009, Sec. 299E, p. 659)
What this means for Americans: With the national unemployment rate reaching 9.5%, Democrats are making the establishment of “green banking” centers their priority, instead of focusing on job creation. The Democrats’ national energy tax plan will help ensure that these “green banking” centers are established across the country. At the expense of working families across the country, Democrats have passed the largest tax increase and job relocation bill in American history. As a result, commerce will come to a grinding halt. The best way to help domestic banks is to reverse course and support the Republican “all of the above” energy plan, the American Energy Act.