The infrastructure and climate package that the Biden Administration has presented to Congress will help combat climate change. Its main mechanisms for doing so are regulation of greenhouse gas emissions and subsidies for renewable energy. While these are useful steps, the package does not include putting a price on carbon. Over 3,500 economists, including 27 Nobel Prize winners, have stated that putting a price on the carbon content of fossil fuels is the most effective mechanism for reducing greenhouse gas emissions. Some members of President Biden’s cabinet, including Treasury Secretary Janet Yellen and even many business leaders agree.
The best approach to putting a price on carbon is The Energy Innovation and Carbon Dividend Act (H.R. 2307) just re-introduced by U.S. Rep. Ted Deutch (D-FL) into this session of Congress. It would place a fee on the carbon content of fossil fuels that would increase over time, reducing demand for those fuels and promoting the development of carbon-free energy sources. The revenue from those fees would be distributed to American households monthly, offsetting the increased cost of energy. This bill is not a substitute for the Biden package, but it would complement it by accelerating the decarbonization of our energy supplies at no cost to the government.
U.S. Rep. Jackie Speier was a cosponsor of the Energy Innovation Act in the last session of Congress. However, she is not yet a cosponsor of H.R. 2307. Please contact her office to express your support for her cosponsoring this vital legislation.
So Robert - you trust the government with this scheme? You are already paying taxes and get very little back. Do you honestly believe that this is going to benefit the green energy cause? First raise the energy prices on unreliable energy supplies and then get a refund that you have already paid for? Then, when most energy has come from renewable, carbon-free resources, what refund would you expect to get? A big fat ZERO. You would be stuck with overpriced, unreliable energy supplies. I seriously doubt that any real economist and scientist would endorse this idiocy.
Mr. Steele, if you can get China, and soon, India, to reduce their carbon emissions, then the American people may forget that we’re paying for this boondoggle through increased energy costs with no measurable benefit.
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So Robert - you trust the government with this scheme? You are already paying taxes and get very little back. Do you honestly believe that this is going to benefit the green energy cause? First raise the energy prices on unreliable energy supplies and then get a refund that you have already paid for? Then, when most energy has come from renewable, carbon-free resources, what refund would you expect to get? A big fat ZERO. You would be stuck with overpriced, unreliable energy supplies. I seriously doubt that any real economist and scientist would endorse this idiocy.
Mr. Steele, if you can get China, and soon, India, to reduce their carbon emissions, then the American people may forget that we’re paying for this boondoggle through increased energy costs with no measurable benefit.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.