Van Hollen Introduces the Healthy Climate and Family Security Act of 2014
Today Maryland Congressman Chris Van Hollen introduced the Healthy Climate and Family Security Act of 2014. This legislation is a simple, fair, and effective way to combat climate change while supporting robust economic growth and a thriving middle class.
It caps carbon pollution and reduces CO2 emissions gradually but steadily, auctions carbon pollution permits to the first sellers of oil, coal, and natural gas into the U.S. market, and returns 100 percent of the auction proceeds electronically each quarter to every American with a valid Social Security number in the form of a Healthy Climate Dividend. On an economy-wide level, the price signal placed on carbon pollution will accelerate innovation and incentivize both greater energy efficiency as well as greater use of lower-carbon energy alternatives.
“Two of the most pressing challenges we face as a country are the need to address the economic costs and public health risks associated with climate change, and to strengthen the middle class. We do both in this bill,” said Congressman Van Hollen. “By capping carbon emissions, selling permits, and returning 100 percent of the revenue to everyone equally, this ‘Cap and Dividend’ approach achieves necessary greenhouse gas reductions while boosting the purchasing power of families across the country. Tackling our problems and moving everyone forward is America at its best. That’s what this bill does, and that’s exactly where we need to be.”
Congressman Van Hollen, Co-Chair of the Renewable Energy and Energy Efficiency Caucus and member of the Safe Climate Caucus and the Sustainable Energy and Environment Coalition, is a leading supporter of congressional efforts to address global climate change.
The Healthy Climate and Family Security Act of 2014 will:
Use a declining cap to reduce CO2 emissions to 80 percent below 2005 levels by 2050
Auction carbon permits to the first sellers of oil, coal, and natural gas into the U.S. market
Return 100 percent of auction proceeds to every American with a valid Social Security number in the form of a Healthy Climate Dividend
Include robust border adjustment protections to ensure U.S. companies are not disadvantaged when competing against foreign competitors at home or abroad
Achieve additional greenhouse gas emissions reductions through the Clean Air Act and other relevant authorities
Original co-sponsors include Congressmen Matt Cartwright (PA-17), Alan Lowenthal (CA-47), Gerry Connolly (VA-11), Earl Blumenauer (OR-03), and Rush Holt (NJ-12).
To read the bill, please click here.