Sen. Cantwell<\/p>\n
We have been waiting to read Senator Cantwell’s bill for a long time, and it’s finally been introduced.\u00a0 A newly introduced climate change bill would cap planet-warming emissions,\u00a0 but reduce the role of Wall Street in carbon markets. The bill would use a “cap and dividend” method to control emissions,\u00a0 and is described as more streamlined than the House’s cap and trade scheme.<\/p>\n
This bipartisan bill “provides businesses and investors with a simple, predictable mechanism that will open the way to clean energy expansion while achieving America’s goals of reducing carbon emissions,” Cantwell said in statement.<\/p>\n
For information on the CLEAR Act and a copy of the report on the dividend economic impact, see Senator Cantwell\u2019s web site and see the legislative descriptions:<\/p>\n
- One Page Summary
\n – Detailed description
\n -\u00a0Legislative Text<\/p>\n
Unlike the Waxman-Markey (ACESA) bill passed by the House earlier this year, financial speculators would be shut out of carbon markets created under new legislation, called CLEAR, introduced by Senators Maria Cantwell, a Democrat, and Susan Collins, a Republican. CLEAR stands for Carbon Limits and Energy for America’s Renewal.\u00a0 According to Cantwell’s website,<\/p>\n
“The CLEAR Act would set up a mechanism for selling \u201ccarbon shares\u201d to fuel producers and would return most of the resulting revenue in checks to every American. The legislation will achieve a reduction in greenhouse gas emissions of 20 percent by 2020 and 83 percent by 2050.<\/p>\n
\u201cEnergy is a six-trillion dollar market opportunity, and green jobs can transform the U.S. economy,\u201d Senator Cantwell said. \u201cBut we need a signal on carbon so that this can happen. This bill provides a simple approach to getting off of carbon and on to clean energy alternatives. The CLEAR Act provides businesses and investors with a simple, predictable mechanism that will open the way to clean energy expansion while achieving America\u2019s goals of reducing carbon emission.\u201d <\/p>\n
Along with the legislation, Cantwell issued a report today detailing the positive economic impact of the dividends to be returned directly to consumers. According to the report, a typical family of four would receive tax-free monthly checks from the government averaging $1,100 per year, or $21,000 between 2012 and 2030.<\/p>\n<\/p>\n
Senator Collins said: \u201cThis bill addresses the most significant energy and environmental challenges facing our country.\u00a0 It would help reduce our dependence on foreign oil, promote alternative energy and energy conservation, and advance the goal of energy independence for our nation. \u00a0Climate change legislation must protect consumers and industries that could be hit with higher energy prices.\u00a0 Such legislation also must provide predictability so that businesses can plan, invest, and create jobs.\u00a0 Finally, climate change legislation should encourage adoption of energy efficiency measures and the further development of renewable energy, which would spur our economy and job creation.\u00a0 The CLEAR Act achieves all of these goals.\u201d<\/p>\n
Cantwell and Collins highlighted the findings of a recent report by the Institute for Policy Integrity at New York University School of Law that concluded: \u201ccarbon [...]<\/p>\n","protected":false},"excerpt":{"rendered":"
Sen. Cantwell We have been waiting to read Senator Cantwell’s bill for a long time, and it’s finally been introduced.\u00a0 A newly introduced climate change bill would cap planet-warming emissions,\u00a0 but reduce the role of Wall Street in carbon markets. … Continue reading