Backup Documents 07/14/2020 Item #10D (Carbon Presentation)
Energy Innovation
and Carbon Dividend Act
Citizens’ Climate Lobby
Collier County Commission
July 14, 2020
Joseph Bonasia
Start in 20 seconds after…
First 15 minutes: may not seem like I’m talking about EICDA
But most important part…
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Former Federal Reserve Chairs
27 Nobel Prize-winning Economists
15 Former Chairs of the Council of
Economic Advisers
Wall Street Journal, January 16, 2019
“A Carbon tax offers the most cost-effective lever to reduce carbon emissions at the scale and speed that is necessary. By correcting a well-known market failure, a carbon tax
will send a powerful price signal that harnesses the invisible hand of the marketplace to steer economic actors towards a low-carbon future.”
98% of economists…
27 Nobel Laureate economists,
12 other former Chairs of the Council of Economic Advisers, and
2 former Treasury secretaries.
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CCL Is For Not Against
Place a fee on fossil fuels at the source (mine, well or port).
Start at $15/ton CO2e, increase $10/ton annually
Return net revenues to households equally, protecting lower/middle class.
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Energy Innovation and Carbon Dividend Act
economists (98%)
Fee will raise prices as ff companies shift the expense to customers, private and business.
Level the playing field
Knowing prices will go up, people will turn to these cleaner, cheaper energy sources.
Dividend will pay for increases.
The Government does not keep the money! Carbon Dividend Trust Fund administered by Treasury Department
Dividend will start a month before fee kicks in.
The greener the individual lives, the more of that dividend he/she pockets.
Businesses that don’t go green, will offer more expensive products and lose market share. They will go green.
Border adjustment protects our businesses. Level playing field. Removes incentives to relocate overseas.
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$288/month*
10 years
$396/month*
20 years
*For a family of four
Under Carbon Fee and Dividend
Household Dividend
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.
Dividend increases because the fees increase
Empowers the individual citizen: We decide what sort of world we will leave our children…through out power of purchase
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