This working paper draws on the latest economic research to demonstrate how climate policy and investments in low-carbon infrastructure can reboot America’s economy and set it up for long-term success. On the other hand, delaying action on climate will further expose the United States to costly damages from climate impacts, air pollution, and public health crises. The United States has made substantial progress towards a low-carbon economy over the past several years. Low-carbon technologies have become more efficient and affordable, and U.S. clean energy investment and deployment grew to new heights, creating millions of jobs. Whether this continues will depend on how the government responds to the COVID-19 crisis.