Rep. Deutch Urges Ways & Means Committee to Take Bold Action on Climate Change
Today, U.S. Representative Ted Deutch (FL-22) testified before the House Ways and Means Committee and encouraged the Members to consider his carbon fee policy as an effective plan to reduce carbon emissions and drive the transition to clean energy alternatives.
"If we want to achieve the cuts in carbon emissions that are necessary to stave off the devastating impacts of climate change," Rep. Deutch testified, "it is essential that we put a price on carbon. The House Ways and Means Committee has a central role on this issue."
The Energy Innovation and Carbon Dividend Act (EICDA) will help reduce U.S. carbon pollution by 90% by 2050. This would be achieved by pricing carbon at $15 per metric ton of CO2e and increasing the price by $10 every year.
"For decades corporations have profited from environmental damage that the American people pay for in the form of chronic illness, cancer, health costs, and harm to our environment. Now is the time for polluters to begin to pay their fair share."
The Treasury Department would return 100% of the net revenue back to the American people, a policy highlighted by a Treasury Department report as helping lower- and middle-income families.
"By returning the revenue generated by the carbon fee directly to the American people, families will be in a financial position to afford renewable energy as they become the alternative to carbon-based fuels. Monthly carbon dividend checks will also enable families to weather the economic storm that so many are still feeling from the COVID-19 pandemic."
"The House Ways and Means Committee can play an integral part in devising critical policies that will reduce carbon emissions and confront climate change. I strongly urge the Committee to closely examine this approach."