One of the reasons that the House bill titled Energy Innovation and Carbon Dividend Act is such a great piece of legislation is that it is the consensus product of both conservatives and liberals. And it is truly remarkable how well it satisfies the priorities of both sides when they work together.
Simply put, EICDA works by paying a monthly carbon dividend directly to people using a fee collected from carbon producers, and this dividend and production fee increases gradually over years. In addition to this simplicity, EICDA has other attractive features. For instance, it is revenue-neutral (passes the carbon fee directly back to U.S. households so the government doesn’t keep the money), has minimal government involvement (uses existing administrative structures so doesn’t grow government), relies on market forces, and lets people make their own spending/technology choices (doesn’t dictate solutions).
Furthermore, because all people receive the same dividend, people with lower incomes are better able to adapt to change (70 percent of households will benefit financially). The EICDA will produce a healthier environment (avoids 295,000 premature deaths by 2030), and builds a stronger market where innovative energy technologies can flourish and support 2.1 million new careers.
But most importantly, EICDA is effective and reduces carbon dioxide emissions by 40 percent within 12 years, which will go a long way to solving climate change and minimizing its consequences (energyinnovationact.org).
Climate legislation is inevitable because climate change consequences are already being felt by the insurance industry, municipalities, farmers, and many more industries and people. It makes sense to support the EICDA that addresses the common priorities and principles of conservatives and liberals. The bill is currently in the House Ways and Means Committee, so it is vital that we all act now to persuade legislators to support this bill (citizensclimatelobby.org).
That is, give a piece of your mind for your peace of mind.