Letter below was submitted to the Star Ledger on 03-14-21, published on line on 03-15-21 with the title above, and in the print edition on 03-15-21.
In a letter on March 12 Gary Stewart closed with the recommendation that Congress pass legislation for a system of Carbon Fee and Dividend (CFD).
CFD was incorporated in HR 763, that was introduced in the House in the last session. It had 86 co-sponsors, including Representatives Albio Sires, Bonnie Watson Coleman, Donald Payne, Jr and Tom Malinowski from N.J.
The Citizens’ Climate Lobby has promoted CFD for twelve years. We expect an updated version of HR 763 to be introduced in the current session.
CFD will put gradually rising fees on fossil fuels at their sources. Fee revenue will be divided into equal shares and distributed each month to members of the public as dividends. CFD is a revenue-neutral price on carbon.
Senator Dick Durban recently introduced a bill that also puts a price on carbon and distributes most of the revenue to the public. If Senate filibuster rules are revised to permit a vote after minority voices have been heard, there is evidence that most Democrats and some Republicans can muster a majority for climate legislation.
A carbon fee with revenue returned to the public is the best strategy today.
Readers: Let your members of Congress know that you support this strategy.
Bill Allen, Basking Ridge