See below for a press release from the Chesapeake Climate Action Network (CCAN) on this excellent and important legislation introduced by Sen. Chris Van Hollen and my Congressman, Don Beyer (D-VA08). As CCAN Director Mike Tidwell explains, this legislation represents an “elegant, equitable, and durable policy to cap carbon emissions nationwide while enhancing the lives of low- and moderate-income American.”
I’m a big fan of the “Cap-and-Dividend” approach, which is a market-based approach that “caps carbon pollution and reduces CO2 emissions gradually but steadily,” then “auctions carbon pollution permits to the first sellers of oil, coal, and natural gas into the U.S. market, and returns 100 percent of the auction proceeds electronically each quarter to every American in the form of a Healthy Climate Dividend.” Let’s repeat that: 100% of the money raised from the cap-and-dividend plan would be RETURNED to the American people, which means that this puts a price on carbon pollution while not hurting people economically. In fact, it will help people economically and in other ways, as it will provide a strong market signal to improve energy efficiency and to spur a rapid transition to a good-job-creating clean energy economy. That’s a winner for everyone…unless you’re a fossil fuel company or Dominion Energy executive, that is. 🙂
CCAN Statement: U.S. Senator Chris Van Hollen and Congressman Don Beyer Introduce Carbon Cap-and-Dividend Legislation
Bill Caps Carbon While Helping Middle Class
WASHINGTON – Today, U.S. Senator Chris Van Hollen (D-MD) and Congressman Don Beyer (D-VA) introduced the Healthy Climate and Family Security Act of 2019. This ‘cap-and-dividend’ policy is a simple, fair, and effective way to address the dangers of climate change. The bill would put more money in the pockets of hard-working Americans, thus increasing their spending power and growing our economy. Learn more here.
In response, Mike Tidwell, Director of the Chesapeake Climate Action Network, stated:
“For a decade, Senator Chris Van Hollen has been a uniquely urgent voice on climate change and a stubborn advocate for real solutions. Today, he reintroduced his elegant, equitable, and durable policy to cap carbon emissions nationwide while enhancing the lives of low- and moderate-income Americans. He was joined on the House side with a companion bill by Congressman Don Beyer of Virginia.
“The Healthy Climate and Family Security Act is a policy first introduced years ago but whose time has come with the latest dire warnings from climate scientists. The policy is calibrated to match the latest science, creating a pathway for the US to help keep global temperature rise below 1.5 degree Celsius. It does this by putting in place transparent ‘upstream’ caps on coal, oil, and natural gas as they enter the US economy. It creates revenue that is then equally distributed to all US households in a progressive manner. Up to 80 percent of all households thus see net economic benefits from this policy while carbon is simultaneously and gradually squeezed out of our economy.
“This is the inevitable policy solution to climate change, in my view. We can no longer wait for the adoption of this responsible and effective approach to the climate crisis.”
The Healthy Climate and Family Security Act caps carbon pollution and reduces CO2 emissions gradually but steadily. It auctions carbon pollution permits to the first sellers of oil, coal, and natural gas into the U.S. market, and returns 100 percent of the auction proceeds electronically each quarter to every American in the form of a Healthy Climate Dividend. A University of Massachusetts Amherst study found a ‘cap-and-divided’ approach would mean more than 80 percent of families would see more money in their pockets, even before taking into account the economic benefits of preventing the costly impacts of climate change.
The Chesapeake Climate Action Network, the oldest and largest grassroots organization dedicated exclusively to raising awareness about the impacts and solutions associated with global warming in the Chesapeake Bay region.