Durbin calls for climate change bonds

Posted on April 29, 2016
Dick Durbin
U.S. Sen. Dick Durbin is backing a measure that would have the federal government issue $200 million in climate change bonds annually.
(Photo courtesy Facebook/Dick Durbin)

By FarmWeekNow/WFMB

WASHINGTON – U.S. Sen. Dick Durbin, D-Illinois, is teaming up with California colleague Barbara Boxer on new climate change legislation.

While such efforts usually focus on the believed causes of climate change or global warming, Durbin said new legislation would deal with the effects.

“My home state of Illinois has experienced historic storms, that have caused millions of dollars in damages,” Durbin said.

The bill calls for the Treasury Department to issue up to $200 million annually in so-called climate change bonds. Durbin notes Americans concerned about the issue will have a chance to put their money where their mouth is.

“The best part is that everyday Americans can be part of the solution by choosing themselves to invest in buying climate action bonds to support these projects,” Durbin said.

The bonds would be similar to ones used during World War II that helped finance the successful war effort.

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