The Energy Innovation Act puts a price on carbon pollution and returns all the proceeds as a dividend to American households. The provisions of this bill will
- reduce emissions 50% by 2030 and put us on track to reach net zero by 2050
- set the direction for innovation and businesses will respond to provide clean affordable energy
- save 4.5 million American as dangerous pollution is reduced
- put money in your pocket that you can spend as you choose
This plan has bipartisan appeal because it
- is revenue neutral — it does not increase the size of government
- creates good jobs,
- protects low and middle income Americans – the dividend means that two/thirds of families will come out even or ahead
- keeps our economy strong
For more information, check out:
- the bill’s official website
- the full text of the bill
The graphic above comes from Energy Innovation Policy Solutions’ web app. Since HR 2307 starts the price at $15/ton and increases it by $10 each year, the price would reach about $300/ton by 2050. To recreate this graph yourself, find “Carbon Tax” under “Cross Sector”, set all the values to $300, and turn on “Applies to Process Emissions”. The app automatically makes the price grow from $0 to $300 between now and 2050, at a similar rate to HR 763. You can use the app to explore many other policy solutions as well.