What Could "Carbon Fee and Dividend" Mean for America, for the World, and for You?
You can’t read very much about climate change before learning that 97% of scientists agree about the man-made nature of the crisis. But what about the economists? A less well-known fact is that just as many economists agree on an effective way to decrease pollution, create jobs, and tackle climate change: put a price on carbon emissions.
While there’s speculation on the best way to do this, one approach in particular is gaining ground for both its efficiency and cogency: Carbon Fee and Dividend. This approach puts an annually increasing price on each ton of carbon emitted and returns the proceeds equally to all Americans in the form of a monthly check. And yes, you are free to do what you want with your cut.
That’s it. That’s all that happens on the surface; it’s beneath the surface where the magic happens. Assessing a fee on carbon means that the worst polluters in our society can no longer cause environmental damage while avoiding the economic responsibility for their actions. Carbon Fee and Dividend, with its annually increasing fee, sends a signal though the market that the use of carbon intensive fuels is bad for the bottom line. As businesses begin to de-carbonize their activities to escape the fee, the dividend drives the creation of jobs and economic activity.
This approach to climate change action is good for our economy now and our lives tomorrow. That’s why a slate of organizations across the political spectrum support this approach: from the Environmental Defense Fund to the conservative-leaning Americans for Carbon Dividends. What’s more, 68% of Americans support the Carbon Fee approach. And luckily for us, a bipartisan group of House lawmakers does as well.
In November, three Republican and three Democratic lawmakers introduced the Energy Innovation and Carbon Dividend Act that would establish just this kind of system. “To call this legislation a breakthrough is an understatement,” said Mark Reynolds, Executive Director of Citizens’ Climate Lobby, an organization that supports Carbon Fee and Dividend. “This bill is easily the most significant congressional move on climate change since 2009.” With bipartisan support, a majority of Americans onboard, and a surging appetite in Washington for action on climate change, perhaps the most important question is this: if it passes, what are you going to do with your check?
Common Sense for the Eastern Shore




