A question proposing a fee on the carbon content of fossil fuels with the proceeds to be returned equally to individuals as a cash-back dividend will appear on the Nov. 8 election ballot in several area communities. It is a non-binding public policy question to see if voters are willing to take this action to counter the effects of global heating. Experts say that putting a fee on carbon content of fuels is one of the fastest, most efficient ways of reducing carbon dioxide pollution, which is the chief cause of global heating. Returning the proceeds from the fee to most Americans as a cash-back dividend will the offset the impact of price increases resulting from the fee.
A strong, economy-wide price on carbon could reduce America’s carbon pollution by 50% by 2030, putting us on track to reach net zero by 2050. A carbon fee becomes affordable for ordinary Americans when the money collected from fossil fuel companies is given as a dividend, or “carbon cash back” payment to every American to spend with no restrictions. This protects low-and-middle-income Americans who otherwise might not be able to afford the transition.
Studies have shown that the monthly carbon cash back payments are enough to essentially cover increased costs of 85% of American households, including 95% of the least wealthy 60% of Americans. This type of carbon pricing is called a “carbon fee and dividend.” Citizens’ Climate Lobby has been advocating for this policy for over a decade. America leads the world with technology innovation. When government puts a price on carbon, it sends a signal through the economy. Businesses respond by becoming more energy efficient and developing new sources of clean, renewable energy. These innovations will not only lead to reduced greenhouse gas emissions, but also provide abundant, affordable, and reliable clean energy and drive us faster toward net zero carbon pollution.
Harry Dodson
Ashfield