PROPOSING A JUST TRANSITION RATING SYSTEM
Payne Institute Fellow Brad Handler and Director Morgan Bazilian write about how the energy transitions threaten to leave communities struggling with facility closures, job losses, and reductions in tax revenues. Many of these communities will seek to reinvigorate—or even reinvent—themselves through investment and programs to spur job and business creation. Although some communities may have “rainy day” funds available for this investment (although legislatures have to be persuaded to use such funds for this purpose), many do not. As such, some municipalities (or other local government formations) will likely have to turn to public debt markets. July 16, 2020.