There is a bipartisan solution to climate change

We’ve been advocating a national bipartisan solution to climate change for the last five years. Finally, we’re pleased to announce that such a solution actually has been introduced in the U. S. House of Representatives.

The Energy Innovation and Carbon Dividend Act (H.R. 7173) (energyinnovationact.org) is a climate solution that goes further than any national policy to date, reducing emissions, creating jobs, growing our economy, lowering health care costs, promoting energy innovation, and encouraging consumer spending. It is sponsored by Rep. Ted Deutch (D-FL), Rep. Francis Rooney (R-FL), Rep. Charlie Crist (D-FL), Rep. Brian Fitzpatrick (R-PA) and Rep. John Delaney (D-MD).

It does so by applying a nationwide price on carbon emissions and returning equal portions of the revenue to people each month and prohibiting new regulations on greenhouse gas emissions. Important for our region is an exemption of the fee on agricultural fuel. Due to our abundance of carbon free electricity, more people in our region are likely to come out ahead financially.

This approach is a climate change solution long advocated by both economists and climate scientists as the simplest, most effective approach to solving climate change. This bill would use a steadily increasing price on carbon to lower carbon dioxide and other greenhouse gas emissions by 45 percent over the next 10 years.

“To call this legislation a breakthrough is an understatement,” said Citizens’ Climate Lobby Executive Director Mark Reynolds. “Any long-term solution needs buy-in from both Republicans and Democrats. And now that their constituents are feeling the negative effects of climate change firsthand, both sides are more willing to cooperate on a solution that brings about real change.”

Reynolds said the new policy will create 2.1 million new jobs over the next 10 years, based on estimates from a 2014 Regional Economic Models, Inc. (REMI) study on the effect of a revenue-neutral carbon price on the American economy. It includes a border adjustment to protect U.S. manufacturers and jobs, which will incentivize other countries to adopt similar policies.

Additionally, implementing this policy will reduce health care costs by cutting pollution, as studies show that poor air quality is responsible for an estimated 60,000 U.S. deaths each year. Thousands more Americans are sickened by toxic air, and costs from air pollution-related illness are estimated at $150 billion per year.

The Fourth National Climate Assessment has estimated that without a climate policy, the impact of climate change could reduce the size of the American economy 10 percent by end of the century.

“Unless steps are taken to dramatically reduce heat-trapping emissions, climate change will do irreparable harm to Americans,” said Reynolds. “This bipartisan solution comes not a moment too soon.”

The revenue from the Energy Innovation and Carbon Dividend Act will be returned equally to all American households on a monthly basis, also known as “carbon dividends.” This ensures the program is revenue neutral and does not grow the size of government.

“This aggressive carbon pricing scheme introduced by members from both parties marks an important opportunity to begin to seriously address the immediate threat of climate change,” said Congressman Deutch. “The status quo is unsustainable; the time to act is right now.”

Included among the co-sponsors are members of the bipartisan House Climate Solutions Caucus, formed in early 2016 to bring Republicans and Democrats together to explore pragmatic solutions to climate change.

This story was originally published December 18, 2018 at 10:13 AM.