Bipartisan Policy Center: Decarbonization: Carbon Pricing

Bipartisan Policy Center: Decarbonization: Carbon Pricing

"Nine carbon pricing bills have been introduced in the 116th Congress, eight of which propose carbon taxes and one of which, S. 940, proposes a cap-and-trade system."

One of the nine bills, HR763, the Energy Innovation and Carbon Dividend Act, has received broad based support above the other eight bills.  This is a carbon pricing bill, aligned with the increasing carbon price strategies recommended by former Republican Secretaries of State James Baker and Howard Shultz, former Republican Secretary of Treasury Henry Paulson and former Democratic Vice President Al Gore.

However, "Currently, no state has implemented a carbon tax. Further, a federal carbon tax bill has never made it to a House or Senate floor vote."

"At the federal level, the Environmental Protection Agency implemented the world’s first large-scale pollutant cap-and-trade system in 1995, to address an environmental problem unrelated to climate change— that of acid rain" but not long term climate.

"Nine carbon pricing bills have been introduced in the 116th Congress, eight of which propose carbon taxes and one of which, S. 940, the Healthy Climate and Family Security Act, proposes a cap-and-trade system. The bills vary widely along several dimensions including types of emissions covered, emissions reductions targeted, initial carbon price, the rate at which the carbon price increases, and the disposition of resulting revenues: 

• S. 1128, the American Opportunity Carbon Fee Act, introduced by Sen. Sheldon Whitehouse (D-RI). 

• H.R. 4142, the America Wins Act, introduced by Rep. Rick Larson (D-WA). 

• H.R. 5457, the Carbon Reduction and Tax Credit Act, introduced by Rep. Sean Patrick Maloney (D-NY) 

• S. 2284 and H.R. 4051, the Climate Act Rebate Act, introduced by Sens. Chris Coons (D-DE) and Diane Feinstein (D-CA), and Rep. Jimmy Panetta (D-CA). 

• H.R. 763, the Energy Innovation and Carbon Dividend Act, introduced by Reps. Ted Deutch (D-FL) and Francis Rooney (R-FL). 

• S. 940 and H.R. 1960, the Healthy Climate and Family Security Act, introduced by Sen. Chris Van Hollen (D-MD) and Rep. Don Beyer (D-VA). 

• H.R.4520, the Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act, introduced by Reps. Brian Fitzpatrick (R-PA) and Salud Carbajal (D-CA). 

• HR. 3966, the Raise Wages, Cut Carbon Act, introduced by Reps. Dan Lipinsky (D-IL) and Francis Rooney (R-FL) 

• H.R. 4058, the Stemming Warming and Augmenting Pay Act, introduced by Reps. Francis Rooney (R-FL) and Dan Lipinski (D-IL)."

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