Bipartisan Group of Lawmakers Propose Landmark Carbon Tax

A bipartisan group of lawmakers is introducing a landmark bill that would charge fossil fuel companies a tax for their carbon dioxide emissions.

The Energy Innovation and Carbon Dividend Act, announced by two Republicans and three Democratic members of the House on Tuesday, would charge $15 for each ton of carbon emitted into the air and would increase that fee by $10 every year afterward, in an effort to fight climate change.  Other than administrative costs, all of the money would go back to taxpayers.

Supporters say the bill would reduce greenhouse gas emissions by 40 percent in 10 years, and 91 percent by 2050.  That’s a bigger cut than former President Obama’s Clean Power Plan or the United States’ commitment under the Paris climate agreement — a pact President Trump has promised to exit.

Introduced weeks before Congress ends for the year, the legislation is unlikely to get serious House consideration in this session.  But with Democrats ready to take control of the House in January, the bill is poised for potential future consideration and will likely be a major marker of where lawmakers from both parties can agree on tackling climate change.

The bill is the first bipartisan piece of legislation to be introduced to put a price on carbon in a decade.  Its sponsors are Reps. Francis Rooney (R-Fla.), Brian Fitzpatrick (R-Pa.), Ted Deutch (D-Fla.), John Delaney (D-Md.) and Charlie Crist (D-Fla.).

“If we don’t act now, we are nearing a point of no return when it comes to the environment, when it comes to our health and when it comes to our economy,” Deutch, the lead Democratic sponsor, told reporters Tuesday.

He said the proposal “is the product of rigorous negotiations between Democrats and Republicans, liberal groups and conservative groups, environmentalists and business interests.”

Crist told reporters at a press conference Wednesday that the measure was imperative.

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