Van Hollen, Beyer Introduce Cap and Dividend Legislation to Address Climate Change

Senator Chris Van Hollen (D-MD) and Representative Don Beyer (R-VA) have introduced the “Healthy Climate and Family Security Act of 2018” with a cap and dividend approach to address climate change while also increasing the spending power of the middle class. The bill aims to reduce greenhouse gas emissions, cap carbon pollution by auctioning carbon permits to oil, coal, and natural gas sellers in the U.S. market, and return all the proceeds as quarterly dividends to every American in the form of a “Healthy Climate Dividends.” Van Hollen, a member of the Senate Environment and Public Works Committee and the Senate Climate Task Force said, “This legislation puts a price on carbon pollution and returns the proceeds directly to the American people at the same time it accelerates the growth of good paying jobs in clean technologies. It is a win-win-win, boosting middle class pocketbooks, growing good paying jobs, and reducing our carbon footprint.” The bill would place a gradually declining cap on emissions requiring an 80 percent reduction in carbon dioxide emissions from 2005 levels by 2050. A dividend approach to address carbon pollution has received bipartisan support in the past. Last year, Republicans proposed a similar carbon tax and dividend approach to White House officials. However, none of the Republican members of the bipartisan Climate Solutions Caucus have signed onto the bill. According to Beyer, some Republicans declined his c...
Source: Public Policy Reports - Category: Biology Authors: Source Type: news