Improving health and reducing pollution is the goal of a new bipartisan bill.
In April, the STAY COOL Advisory Council endorsed H.R. 763, The Energy Innovation and Carbon Dividend Act. The bill, championed by Citizens Climate Lobby, a grass-roots climate organization, would reduce emissions by nearly 40% in 10 years and 90% by 2050. It will improve health and save lives by reducing the pollution we breathe. It will spur innovation and incentivize businesses to move toward a zero-carbon future. And it is revenue neutral, meaning it does not grow the size of government.
Here is how it works:
The government puts a fee on fossil fuels – oil, natural gas, and coal. It starts low and grows over time. The money collected is allocated in equal shares every month to American households to spend as they see fit. Program costs are paid from the fees collected. The government does not keep any of the money from the carbon fee.
To protect U.S. manufacturers and jobs, imported goods will be assessed as a border carbon adjustment, and goods exported from the United States will receive a refund.
The policy preserves effective current regulations, like auto mileage standards, but pauses the EPA authority to regulate CO2 for the first ten years after the policy is enacted. This pause does not impact EPA regulations related to water quality, air quality health, or other issues. H.R. 763 will lower carbon emissions far more than existing and pending EPA regulations.
Since its introduction, H.R. 763 has garnered support from economic think tanks, advocacy groups, faith groups and citizens. A partial list: the Silicon Valley Leadership Group, the Environmental Defense Fund, the Nature Conservancy, the World Resources Institute, the U.S. Conference of Catholic Bishops, the Presbyterian Church (USA). Climate scientists such as Katherine Hayhoe and James Hansen support the bill.
Locally, the Cities of Del Mar, Carlsbad and Encinitas have endorsed it.
More than 3,500 economists, including four former chairs of the Federal Reserve and 27 Nobel Laureates, have endorsed the concept of carbon fee and dividend.
What STAY COOL members can do.
Tell Congress you support this legislation and want to see it enacted into law. As of this date, eighty members of Congress are co-sponsors including California representatives Scott Peters, Susan Davis, Mike Levin and Juan Vargas.
This article is contributed by Laura Schumacher
