Cap & Rebate Climate Proposal
December 29, 2009 by Zachary Shahan
Filed under Carbon
New “Cap & Rebate” Climate Bill Proposal Will Give You $1,100 a Year?
A new climate bill proposal with bi-partisan and moderate-Democrat support changes a few critical features from previous proposals, but it still seems to keep to the aim. Supposedly, the (Cantwell-Collins) bill would achieve a 20% reduction in greenhouse gases by 2020 and an 83% reduction by 2050.
Not only that, but it would also give a monthly refund of about $100 to a family of four, refunding approximately 75% of all revenue to US residents.
There are criticisms of the bill, of course, such as that it may take a long time for emissions reductions to start up and may not generate significant investment in clean tech.
However, given the political fatigue in Congress after the healthcare bill, a simple (currently 39 pages), widely supported bill that gives money back to the residents, may be just the thing we need if anything is going to get passed this year.
