Net Zero by 2050
This policy will reduce America’s carbon pollution by 50% by 2030, putting us on track to reach Net Zero by 2050.
Source for 50% reduction by 2030: Resources for the Future Carbon Pricing Calculator Source notes: 50% or more reduction refers to 2005 emissions as a base year. The Resources for the Future calculator assumes the policy is implemented in 2020 and so shows an emissions reduction of 57%. When adjusted for a 2022 start year, the emissions reductions are closer to 54%.
Source for net zero by 2050: Text of the bill
Affordable Clean Energy
America leads the world with technology innovation. With this policy, the government sets the direction, and businesses respond in order to provide abundant, affordable, and reliable clean energy. This clean energy innovation will drive us faster towards net zero pollution.
This policy will improve health and save 4.5 million American lives over the next 50 years by reducing pollution Americans breathe. Poor air quality is responsible for as many as 1 in 10 American deaths today, and sickens thousands more.
Source for 4.5 million American lives saved over 50 years: Health and Economic Benefits of a 2ºC Climate Policy
Source for 1 in 10 American deaths caused by air pollution: Global mortality from outdoor fine particle pollution generated by fossil fuel combustion: Results from GEOS-Chem
Puts Money in Your Pocket
This policy is affordable for ordinary Americans because it puts money in your pocket. The money collected from the fee is given as a monthly dividend, or ‘carbon cash back’ payment to every American to spend with no restrictions. Most low and middle income Americans will come out financially ahead or break even.
$2,974 annual dividend for a family of 4
Source: The estimated $2,974 annual dividend for a family of 4 in year 10 is from Resources for the Future modeling of annual emissions and population data from the U.S. Census. The calculation is 2.865 GtCO2e of covered emissions x $105/tCO2e carbon fee - 1.07% of that number in admin cost / 305.6 million full dividend shares.
95% of low and middle wealth households will get a boost or essentially break even.
- $800 billion in annual costs from environmental and health harms of fossil fuels
- 350,000 lives lost each year through air pollution
- 4.5 million lives saved over the next 50 years