FOR IMMEDIATE RELEASE
CCL applauds Senate consideration of carbon pricing
CCL urges Congress to follow through on ambitious climate policy in budget reconciliation
SEPTEMBER 8, 2021 – Today, Citizens’ Climate Lobby (CCL), a nonprofit, nonpartisan, grassroots advocacy organization, released a statement of support for the inclusion of a carbon price in budget reconciliation. According to a document released by the U.S. Senate Committee on Finance, a carbon price and dividend is under consideration for inclusion in the reconciliation package as part of a menu of options to raise revenue to offset federal spending.
CCL Executive Director Mark Reynolds said, “We applaud the high level of ambition Congress is showing on climate change by considering a carbon price in this budget package. We appreciate that Congress is being responsive to their constituents, who have been asking for bold legislation to address climate change, and specifically to CCL volunteers who have been asking for fee and dividend policy for years.”
The Committee’s proposed policies include a “per-ton tax on the carbon dioxide content of leading fossil fuels (e.g., coal, oil, natural gas) upon extraction, starting at $15 per ton and escalating over time.” According to the document, any price on carbon would also be paired with “rebates or other direct relief for low-income taxpayers,” and “a border adjustment to ensure foreign companies also pay the tax.”
Along with other climate measures under consideration, a price on pollution will achieve President Biden’s goal of a 50% reduction in emissions by 2030. Without a carbon price, the projected reductions of other legislative measures amounts only to 45% on the same timeline.
In addition to supercharging America’s domestic emissions reductions, a carbon price would complement the carbon border adjustment mechanisms soon to be implemented by major U.S. trading partners Canada and the European Union. With the EU set to impose a border carbon tax on imports from nations that don’t price carbon, a U.S. carbon price will prevent additional costs for American companies and protect American jobs.
The consideration of carbon pricing comes on the heels of a summer during which devastating storms, wildfires, and heat waves drove home the urgent need for effective and efficient federal action to mitigate the worst impacts of climate change. Carbon pricing enjoys broad support from businesses, state legislators, and the American public on both sides of the aisle: 70% of registered voters would support a candidate who wants a price on carbon.
CONTACT: CCL Communications Director Flannery Winchester: 615-337-3642, *protected email*
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