Pricing carbon would put a fee on the burning of high carbon dioxide contributors for fuel; like coal, gas, and oil. Placing a tax on carbon would force producers of these unsustainable practices to pay for the carbon damage that is exacerbating our global warming.
Carbon fee policy with a dividend is a solution that gives taxpayers a significant advantage. Think of the atmosphere like a football stadium, with a limited capacity for the number of people it can safely hold. For example, Hard Rock Stadium in Miami has a listed capacity of 65,000. Although you could pack many more people into the venue, letting in more than the structure can handle will risk the health and safety of everyone inside. Similarly, there is a limited amount of carbon dioxide the atmosphere can safely hold before the stability of the climate and the Earth’s ability to sustain our civilization is put at risk. Managing this limited capacity is the central challenge of the climate crisis.
Carbon pricing in its simplest form is a cost applied to carbon pollution to encourage polluters to reduce their emissions and invest in clean energy. If a carbon tax rate of $40.00 per ton is assessed to oil and gas companies, many Republicans and Democrats agree the fees and taxes collected should be given back to American taxpayers in the form of carbon dividends. This comes out to roughly $2,000 per year per family of four. As the legislation stands now, most taxes on carbon consumption fall heavily on the nation’s lowest-income earners, but a dividend would change that.
Momentum towards pricing carbon has grown as proposed legislation has been supported by advocacy groups and politicians. Learn more about taxing carbon and find resources to support this monumental solution.
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Find out more about carbon pricing
Energy Innovation and Carbon Dividend Act
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