Phillips Co-Sponsors Bipartisan Energy Innovation and Carbon Dividend Act
WASHINGTON, DC - In celebration of Earth Week, Rep. Dean Phillips announced today that he is co-sponsoring H.R. 763, the Energy Innovation and Carbon Dividend Act, the only bipartisan bill in Congress aimed at combating climate change and incentivizing a green economy. Phillips reiterated his continued focus on finding impactful legislative solutions for combating climate change in a statement today:
“We didn’t leave the Stone Age because we ran out of rocks. We found a better way of doing things,” said Phillips. “Climate change is an urgent problem and we need to reach a solution as quickly as possible. The Energy Innovation and Carbon Dividend Act empowers a new generation of innovators to do just that. Everyone has a stake in preserving our planet and finding ways to make a green economy possible.”
The bill creates a Carbon Dividend Trust Fund for the American people to encourage market-driven innovation, clean energy technologies and market efficiencies that will reduce pollution and leave behind a healthier, more stable and more prosperous nation for future generations. It includes carbon fee exemptions for fuels used by the armed forces and agriculture, and provides rebates to facilities that capture and sequester carbon.
The bill would decrease U.S. carbon emissions by 40% in the first twelve years and is revenue neutral, returning every cent raised from carbon fees back to American consumers.
“Climate change is a huge problem that needs a big, lasting, and equitable solution,” said Kelli Lewis, State Coordinator for Citizens Climate Lobby, a non-profit, nonpartisan, grassroots advocacy organization focused on national policies to address climate change with 19 chapters in Minnesota. “Extreme weather events are causing the loss of American lives and property today, and our window to avoid the very worst effects of climate change is quickly closing. We fully support the Energy Innovation and Carbon Dividend Act because it will drive down America’s carbon pollution while unleashing American technology innovation and ingenuity. We are so happy that addressing this problem is one of the first things that Congressman Phillips tackled once he got into office. We will work diligently with the Congressman to get this bill passed by continuing to build bipartisan support, securing endorsements, and encouraging our Senators to reintroduce the companion bill in the Senate.”