I agree with the Wall Street Journal guest editorial Friday that House Speaker Nancy Pelosi was not in a position to speak on behalf of the nation when she claimed that the United States is "still in" the Paris Agreement.
I want readers to know, however, that the carbon fee and dividend legislation that has been introduced in the U.S. House would take us close to the goal of net zero carbon emissions by 2050, a goal considered by experts to be crucial in preventing irreversible damage to our planet from global warming. This legislation has the support of more than 3,500 American economists and all members of the Federal Reserve, 15 former chairs of the Council of Economic Adviser and two former secretaries of the U.S. Treasury as the most cost-effective lever to reduce emissions at the scale and speed necessary.
The carbon fee and dividend bill with the most traction is HR763, the Energy Innovation and Carbon Dividend Act. This bill is market based and revenue neutral. An independent study released in November by Columbia University’s Center on Global Energy Policy corroborates earlier studies that show that it would be as effective as claimed. I urge readers to learn more about this bill and to contact Rep. Bryan Steil of Janesville to urge his support of it. Carbon fee and dividend legislation represents the best first step in addressing the climate crisis!