WASHINGTON – U.S. Senators Chris Coons (D-Del.) and Jeff Flake (R-Ariz.) today introduced bipartisan legislation to pay a monthly dividend to every American family. The Energy Innovation and Carbon Dividend Act places an increasing price on carbon and other greenhouse gas emissions, designed to drive down pollution, address climate change, and encourage market-driven innovation in clean energy technologies. Revenues received will be returned directly to the American people in the form of a monthly dividend, protecting energy consumers and low- and middle-income households. The legislation aims to help accelerate American innovation to advance clean energy solutions, incentivize our trading partners to lower emissions, and prevent thousands of pollution-related deaths annually. A related bill was introduced in the U.S. House of Representatives by Congressmen Ted Deutch (D-Fla.), Francis Rooney (R-Fla.), John Delaney (D-Md.), Brian Fitzpatrick (R-Penn.), and Charlie Christ (D-Fla.).
“Climate change is a serious threat to our economy, our security, and our way of life, and we need leadership from all parts of our society and government to tackle it,” said Senator Coons. “Putting an economy-wide price on carbon and other greenhouse gases is a comprehensive way to reduce emissions, spur innovation, and create jobs. I am proud to introduce this legislation with my good friend Jeff Flake, who has long been a champion of market-based climate legislation since his days in the House. I am hopeful that we will continue to have bipartisan conversations about addressing this issue.”
“With the administration’s recent climate assessment and skeptical response from the president, Republicans need to be at the forefront of addressing climate change,” said Senator Flake. “Sen. Coons and I have introduced bipartisan, revenue-neutral carbon tax legislation that provides an honest path to clean energy. This free-market solution will reduce carbon pollution and encourage American innovation.”
"We thank Senators Coons and Flake for demonstrating their commitment to ambitious carbon pricing that benefits Americans and our economy. Today's introduction shows that well-designed climate policy is supported by both Republicans and Democrats in both chambers of Congress, and it is gaining momentum. And this shouldn't be surprising - Citizens’ Climate Lobby volunteers had more than 3,000 meetings with representatives and senators during this Congress, asking for this specific type of legislation. The Energy Innovation and Carbon Dividend Act has the enthusiastic support of 100,000+ Citizens’ Climate Lobby supporters across the country,” said Mark Reynolds, Executive Director, Citizens' Climate Lobby.
A one-pager on the bill is available here.
The bill text is available here.