Sept. 3 (UPI) -- Democratic presidential candidate Sen. Cory Booker on Tuesday proposed spending $3 trillion to transition to a 100 percent carbon-neutral economy if he's elected president.
Calling climate change an "existential threat," Booker said his plan would create millions of "good-paying" jobs, and clean up the United States' air, water and soil.
"We are facing a dual crisis of climate change and economic inequality," he said. "Without immediate action, we risk an incredible human toll from disasters, health impacts, rising national security threats and trillions of dollars in economic losses."
Booker, who represents New Jersey in the Senate, said he would sign executive orders undoing the Trump administration's rollback of Obama-era environmental regulations, including fuel economy standards. Booker said he'd also rejoin the Paris Agreement on climate change.
Additionally, the plan would require companies that produce fossil fuels to pay a carbon fee to offset the use of coal, natural gas and oil production. Subsidies to those industries also would be eliminated.
Booker also would increase Environmental Protection Agency actions against polluting companies, require all passenger vehicles to be zero emission by 2030, bar all new onshore and offshore fossil fuel leases, revoke approval of the Keystone and Dakota Access pipelines, and negotiate trade agreements that take environmental and labor standards into consideration.
Booker said his administration would invest more than $3 trillion by 2030 to create a 100 percent carbon-neutral economy by at least 2045. He calls for local communities and farmers to be involved in the decision-making.
Booker is among a number of Democratic presidential candidates who have supported the Green New Deal on climate change.