Climate Action Rebate Act Meets Scope and Scale of the Climate Challenge Home / News Center / Blog Posts / Climate Action Rebate Act Meets Scope and Scale of the ...
September 6, 2019 Ryan Martel Federal Policy In July, Sen. Chris Coons (D-Del), Sen. Diane Feinstein (D-Calif) and Rep. Jimmy Panetta (D-Calif) introduced the Climate Action Rebate Act to put a price on carbon and other greenhouse gas (GHG) emissions.
With mandatory targets to reduce U.S. GHG emissions 55% in the next 10 years and 100% by 2050, the bill is striking in its honest acknowledgement of the need to completely decarbonize our economy by 2050 —or sooner. It’s a policy proposal firmly backed by the best climate science available—and one that recognizes the imperative to keep average global temperature rise below 1.5 degrees Celsius in order to avoid the worst impacts of climate change.
We know that climate change puts lives, livelihoods, health and homes at risk. It threatens our national economy and our way of life. And we know that we are running out of time left to act.
So, it’s good to see momentum for carbon pricing build in Congress. We’ve seen a surge of federal carbon pricing proposals in recent years, some more ambitious than others. We’re pleased to see this trend as lawmakers on both sides of the aisle heed the growing calls for climate action from investors, companies and their constituents—even if a consensus around comprehensive climate legislation is still moving too slowly.
This summer, Rep. Francis Rooney (R- Fla.) collaborated with Rep. Dan Lipinski (D-IlI) on two different carbon pricing proposals this summer: the Stemming Warming and Augmenting Pay (SWAP) Act and Raise Wages, Cut Carbon Act. These two proposals have some similarities, and some important differences, with the Climate Action Rebate Act. Notably, the Climate Action Rebate Act’s 100% emissions reduction target is the most ambitious—and is in line with what climate scientists say is both achievable and necessary. We use cookies on this site to enhance your