HR 763 puts a price on carbon pollution and returns all the proceeds as money in your pocket. Therefore, it stimulates the economy and promotes green innovation. Experts agree it reduces emissions. However it is revenue neutral, so it does not increase the size of the government. For these reasons, HR 763 has bipartisan appeal.
For more information, check out:
- the full text of the bill
- the powerpoint slides made by State College CCL member Mike McCann (gives a snapshot as of February 2019)
- the bill’s official website.
The graphic above comes from Energy Innovation Policy Solutions’ web app. Since HR 763 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.