July 30, 2014
Public Citizen Endorses Van Hollen Cap and Dividend Climate Legislation; Legislation Is Needed Companion to EPA Rules
Statements by David Arkush and Tyson Slocum of Public Citizen
Note: Today, U.S. Rep. Chris Van Hollen (D-Md.) introduced the Healthy Climate and Family Security Act of 2014.
“Public Citizen strongly supports the Healthy Climate and Family Security Act of 2014, so-called ‘cap and dividend’ legislation introduced today by U.S. Representative Chris Van Hollen. The bill requires fossil fuel companies to purchase carbon pollution credits though auctions, with the federal government receiving the revenues. One hundred percent of the auction proceeds would be distributed to U.S. consumers on a per capita basis, offsetting the regressive aspect of placing a price on carbon. The legislation prohibits Wall Street from developing secondary derivatives markets of the pollution credit auction, and it doesn’t allow for any offsets to emission reductions. Complementing the auction is a firm cap on carbon emissions targeted to reduce them 80 percent from 2005 levels by 2050.” – David Arkush, managing director of Public Citizen’s Climate Program
“Public Citizen has endorsed similar efforts in the past, including Senators Cantwell and Collins’ CLEAR Act in 2009 and Senators Sanders and Boxer’s Climate Protection Act of 2013. We believe that using the EPA’s authority to regulate greenhouse gas emissions, along with legislation that prices carbon and refunds proceeds back to families, are important foundations of a successful effort to combat climate change.” – Tyson Slocum, director of Public Citizen’s Energy Program