Policy Update: Pricing Carbon, Paying Dividends
From the Chesapeake Climate Action Network, Mike Tidwell, Director
Compiled and edited by Ted Glick, CCAN National Campaign Coordinator
September 30, 2014
The Chesapeake Climate Action Network supports efforts to advance legislation to put a price on carbon and return all or most of the proceeds to American families. We are pleased to support HR 5271, the Healthy Climate and Family Security Act, “cap and dividend” legislation introduced by Congressman Chris Van Hollen (D-Md.) in the House of Representatives on July 30, 2014. We will be producing and distributing this occasional newsletter to keep others informed about developments with this bill and with other efforts to put a price on carbon and other greenhouse gas emissions.
More information on the Van Hollen bill can be found at http://climateandprosperity.org.
In This Issue:
#1: The Hill, September 10, 2013: Saving our climate and the middle class, by Tyson Slocum and Mike Tidwell
#2: PBS Newshour: Why you have the right to a $5K dividend from Uncle Sam, by Peter Barnes
#3: Huffington Post, September 15, 2014: Who will carry big dividend checks at the People’s Climate March?, by Mike Sandler
#4: EESI, August 13, 2014: Congress leaves with a bang on climate
#5: Organic Bytes, Sept. 11, 2014: Permission to Pollute?
#6: Dissident Voice, September 15, 2014: Pricing Pollution, Cutting Carbon, by Ted Glick
#7: Trenton Times, August 17, 2014: March for climate next month (letter to the editor)
#8: Resources for the Future: The Initial Incidence of a Carbon Tax Across Income Groups:
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#1: The Hill, September 10, 2013: Saving our climate and the middle class, by Tyson Slocum and Mike Tidwell
“The biggest solution remains passage of a strong federal law by Congress. As a nation, we have faced many great crises in the past – and prevailed. So we can surely overcome the crisis of gridlock on Capitol Hill when the stakes are big enough. Simply put, climate change and our vanishing middle class cannot wait. The Van Hollen “cap and dividend” bill now before Congress would begin solving both problems in a fair and effective way. It’s time to act.”
#2: PBS Newshour, August 27, 2014: Why you have the right to a $5K dividend from Uncle Sam, by Peter Barnes
“A national dividend system would be simple, fair and immensely popular. It would rest on the principle of shared ownership, not redistribution. Once set up, it would be market-based rather than tax-funded. And it could gain support across the political spectrum: conservatives from Sarah Palin to Bill O’Reilly have lauded Alaska’s dividends.”
#3: Huffington Post, September 15, 2014: Who will carry big dividend checks at the People’s Climate March?, by Mike Sandler
“There are many challenges in communicating about climate change and its best solution, a carbon price. It needs to be simple, allay economic fears, and convey universal fairness. So how can the climate marchers turn a complex carbon pricing system into a simple visual cue that offers something for everyone? By advocating returning the revenues from a carbon price back to everyone equally (aka “climate dividends”).”
#4: EESI, August 13, 2014: Congress leaves with a bang on climate
“Rep. Chris Van Hollen (D-MD) introduced the Healthy Climate and Family Security Act of 2014 (H.R. 5271), a cap-and-dividend approach for carbon emissions reduction, on July 30. Rep. Van Hollen explained, ‘by capping carbon emissions, selling permits, and returning the resulting revenue to everyone equally, this ‘cap and dividend’ approach achieves the greenhouse gas reductions climate scientists tell us we need to prevent the dangerous consequences of climate change while boosting the purchasing power of American consumers.’ ”
#5: Organic Bytes, September 11, 2014: Permission to Pollute?
According to a recent study by the Rodale Institute, if regenerative agriculture were practiced globally, 100 percent of current, annual carbon dioxide (CO2) emissions would be sequestered. That said, we also need to reduce our use of, and dependency on, fossil fuels. Rep. Chris Van Hollen (D-Md.) has introduced a bill that would require energy companies to purchase pollution permits at auction. All of the auction revenue would be returned in equal amounts to every U.S. resident with a valid Social Security number.
#6: Dissident Voice, September 15, 2014: Pricing Pollution, Cutting Carbon, by Ted Glick
“For the last several years, since the failure of cap-and-trade legislation in the US Senate, a loose network of about 35 or more groups has been having occasional discussions about other options: a carbon tax, fee-and-dividend or cap-and-dividend. Earlier this year, some of the more activist groups in that network came together to develop plans to ‘go public’ on this issue of the need to price carbon. They are building towards what are expected will be dozens of local actions around the country over the weekend of November 14-16.”
#7: Trenton Times, August 17, 2014: March for climate next month (letter to the editor)
“The goal of supporting climate action is not an impossible to reach. Recent Gallup and Pew polls show that a majority of Americans now recognize that global warming is happening, man’s activities are its cause and citizens want action. Rep. Chris Van Hollen (D-Md.) has introduced the Healthy Climate and Family Security Act of 2014, which Mr. Holt co-sponsors. A good turnout in New York has the potential to help push the act through Congress.”
#8: Resources for the Future: The Initial Incidence of a Carbon Tax Across Income Groups
“While carbon taxes are regressive, the incidence depends much more on how carbon tax revenue is used. Recycling revenues to cut capital taxes is efficient but exacerbates regressivity. Lump-sum rebates are less efficient but much more progressive, benefiting the three lower income quintiles even when ignoring environmental benefits. A labor tax swap represents an intermediate option, more progressive than a capital tax swap and more efficient than a rebate.”
CCAN encourages readers of the Cap and Dividend Policy Update to distribute it to others who might be interested. We welcome input on the contents of this publication and ideas for what could be included.