Energy Innovation and Carbon Dividend Act

The fundamental problem with fossil fuels is that the price we pay to use them doesn’t currently reflect their true cost on society. Burning fossil fuels leads to global warming, worsened natural disasters, extreme precipitation events, climate migration, sea level rise, and many other devastating—not to mention costly—effects. In other words, these costs don’t appear at the gas pump, but are instead “passed down” in the form of human health impacts, climate refugees, ecosystem destruction, necessary adaptation measures (such as sea walls or agricultural infrastructure), emergency responses to natural disasters, and more.

This market failure (where the consumer price of a product does not reflect its true cost) is the primary barrier preventing effective action on climate change.

The first step toward solving this problem requires pricing carbon so that fossil fuels more fully reflect this cost. At the same time, this must be done with care to avoid further disadvantaging those most directly harmed by climate impacts, and particularly the poor and vulnerable, who are least capable of adapting to climate and economic challenges. Any carbon pricing solution must be fair for everyone, with a particular concern for how the poor are impacted.

That’s why Climate Caretakers is proud to announce our support for the Energy Innovation and Carbon Dividend Act (H.R. 763).

Not only will this bill drastically and quickly reduce U.S. carbon emissions, but it does so in a way that stimulates the economy, while prioritizing the needs of lower-income individuals. A core element of the bill is that it is revenue neutral, with all revenue being returned to American households in equal portions. Specifically, the bill would:

  • Reduce carbon emission by 40% in just 12 years (far exceeding our original Paris Agreement goals)

  • Create 2.1 million new jobs

  • Save many lives by significantly lowering pollution in the U.S.

  • Finally, the bill is bi-partisan with support from both Republicans and Democrats.

To show your support for the Energy Innovation and Carbon Dividend Act visit the website here: https://energyinnovationact.org/endorse/ . You can also join us at the annual Citizen’s Climate Lobby Conference this June in Washington D.C. But you’ll want to register soon, as lobby spots at the CCL conference fill up quickly.