Statement of Support for the Healthy Climate and Family Security Act of 2018
We are pleased to support the introduction of the Healthy Climate and Family Security Act of 2018 by U.S. Senator Chris Van Hollen (D-Md.) in the House and Representative Don Beyer in the Senate. This bill is being introduced at a particularly important moment, when the climate crisis has gained traction under the Trump Administration.
This legislation will help solve the climate crisis while growing our economy and helping working families prosper. It is simple, fair and built to last.
The legislation aims to cut carbon pollution 20% below 2005 levels by 2020 and 80% by 2050. It allows for those targets to be strengthened by a vote of Congress if necessary to “avert catastrophic climate impacts.” It auctions 100% of the carbon permits to coal, oil and gas companies, allows for no potentially complex carbon offsets, and prevents Wall Street involvement in the carbon market. It will spur economic investment and create a large number of jobs in clean energy.
It protects the purchasing power of American families by returning 100% of the revenue raised by the auction to all residents with a valid Social Security number on a quarterly, per capita basis. With an initial auction price of $10/ton of CO2, a median family of four would receive about $640/year and pay about $380 as a result of higher fossil fuel prices, receiving a net benefit of about $260/year. That amount is expected to increase over time. This climate dividend will help protect all families from rising fossil fuel energy prices. Indeed, all lower and middle-income Americans will see a net increase in their annual income.
The Healthy Climate and Family Security Act directs the U.S Environmental Protection Agency to use the Clean Air Act and other authority to make additional reductions in non-carbon greenhouse gases.
This is a carbon pricing proposal before Congress that, when passed, will help American families, our economy and our planet.
To sign on or find out more, contact Mike Tidwell, Executive Director at Chesapeake Climate Action Network at email@example.com