Bi-Partisan Climate Progress…Finally!

Comprehensive and bi-partisan legislation to address climate change, the Energy Innovation and Carbon Dividend Act of 2018, has recently been introduced in both the House and the Senate. This progress is long overdue. Ronald Reagan, Margaret Thatcher and George H.W. Bush were all calling for action to address climate change 30 years ago. Since then we have seen this important issue fall victim to special interests influence and partisan politics. This legislation will reduce greenhouse gas pollution by placing a modest fee on carbon intensive fossil fuels to spur innovation and encourage the use of cleaner energy sources. The money collected from the carbon fee will then be allocated in equal shares every month to the American people to spend as they see fit. The government would not keep any of the money from the fee. If passed, this revenue neutral and market friendly policy will reduce America’s emissions by at least 40% within 12 years. It will also give America’s energy sector the regulatory predictability it needs to plan its future investments. This approach has strong support from economists and scientists as a simple, comprehensive, and effective climate solution. Current co-sponsors of the House bill, H.R. 7173, include Representatives Brian Fitzpatrick (R-PA), Francis Rooney (R-Fl), Dave Trott (R-MI), Charlie Crist (D-FL), Ted Deutch (D-FL), John Delaney (D-MD), Anna Eshoo (D-CA), Judy Chu (D-CA), Dan Lipinski (D-IL) and Scott Peters (D-CA). Current co-sponsors of the Senate bill, S. 3791, are Jeff Flake (R-AZ) and Chris Coons (D-DE). While many conservatives in Congress privately recognize the need to address climate change, they have been reluctant to take a stand publicly. A...