ColorBrightonGreen Supports Carbon Fee and Dividend

ColorBrightonGreen.org Board of Directors supports federal legislation for a Carbon Fee and Dividend Bill and that is being supported by the Citizens Climate Lobby (CCL).

ColorBrightonGreen.org endorses the approach that the Citizens Climate Lobby is taking in building a bipartisan Climate Caucus in Congress to move this bill forward. Both of our organizations believe that if a truly bipartisan caucus supports this bill that it can become reality. You can help by endorsing this bill and communicating that endorsement to our U.S. Representative Louise Slaughter and our two U.S. Senators.

Outlined below are the core components of Carbon Fee and Dividend as outlined by CCL: If you want further information, visit the Citizens Climate Lobby website.

Place a steadily rising fee on fossil fuels: To account for the cost of burning fossil fuels, we propose an initial fee of $15/ton on the CO2equivalent emissions of fossil fuels, escalating $10/ton/year, imposed upstream at the mine, well or port of entry. Accounting for the true cost of fossil fuel emissions not only creates a level-playing field for all sources of energy, but also informs consumers of the true cost comparison of various fuels when making purchase decisions.

Give 100% of the fees minus administrative costs back to households each month: 100% of the net fees from the carbon fee would be held in a Carbon Fees Trust fund and returned directly to households as a monthly dividend. About two-thirds of households will break even or receive more than they would pay in higher prices. This feature will inject billions into the economy, protect family budgets, free households to make independent choices about their energy usage, spur innovation and build aggregate demand for low-carbon products at the consumer level.

Use a border adjustment to stop business relocation. Import fees on products imported from countries without a carbon fee, along with rebates to US industries exporting to those countries, will discourage businesses from relocating where they can emit more CO2 and motivate other countries to adopt similar carbon pricing policies. Building upon existing tax and trade systems will avoid complex new institutional arrangements.  Firms seeking to escape higher energy costs will be discouraged from relocating to non-compliant nations (“leakage”), as their products will be subject to import fees.