Michael Patetta: Carbon fee would boost economy
The Dec. 2 news article “As Obama talks climate, GOP tries to block emissions cuts” presented a conflict that does not need to occur.
The Obama administration wants to force steep cuts in greenhouse gas emissions from U.S. power plants while the Republicans in Congress are concerned that this will kill jobs.
A compromise would be a carbon fee and dividend bill that mandates a steadily rising fee on carbon-based fuels with revenue from that fee returned to households in equal shares.
A study from Regional Economic Models, Inc. found that in 20 years, CO2 emissions would be reduced 50 percent below 1990 levels. The study also found that in 20 years, 2.8 million jobs would be added to the American economy because of the economic stimulus of recycling carbon fee revenue back to households.
This legislation would be a win-win for both parties.
Michael Patetta
Cary
This story was originally published January 2, 2016 at 1:00 PM with the headline "Michael Patetta: Carbon fee would boost economy."