CLEAR ACT: Cap & Refund to Energy Independence and Climate Change Mitigation
- There is an alternative to the Big Business-dominated climate bills. This bill sponsored by Senator Cantwell of Washington State has some major strengths! Make your voice heard. - Editor
CLEAR ACT: Cap & Refund to Energy Independence and Climate Change Mitigation
Primary Advantages of the CLEAR Act’s Cap & Refund Approach
• The CLEAR Act offers simple, streamlined design and simplified accounting by virtue of its upstream cap and 100 percent auction of carbon shares with participation limited to a few thousand entities that actually produce or import fossil fuels.
• The CLEAR Act is likely to be revenue neutral to the U.S. Treasury, and the majority of American consumers.
• The CLEAR Act provides for a dedicated fund, allocated by Congress within the normal budget and appropriations process, to finance clean energy investments and climate mitigation and adaptation programs
• The CLEAR Act offers emissions reduction certainty through its establishment of gradually declining limits on fossil carbon entering the economy in a specified period, while achieving the science-based goal of an 80+ percent reduction in greenhouse gas emissions by 2050.
• The CLEAR Act provides fossil fuels users reasonable price certainty with full and advance knowledge of the annual quantity of carbon shares available, and a carbon share auction price collar.
• The CLEAR Act protects manufacturing from unfair competition from foreign producers by requiring importers of energy-intensive commodities to pay the fair market price of the production process carbon that is emitted abroad.
• The CLEAR Act provides strong economic incentives in the form of direct payments to energy consumers encouraging energy efficiency, fuel switching, and broad-based support for policies to mitigate climate change.
• The CLEAR Act‘s broad, economy-wide coverage of carbon, regional fairness, lack of special interest giveaways, protection for low-income families, and equal monthly distribution of auction revenues will engender bipartisan and diverse political support, public acceptance, and long-term sustainability.
For the bill- http://cantwell.senate.gov/issues/CLEAR%20Act%20-%20Leg%20Text.pdf
http://cantwell.senate.gov/issues/CLEAR%20Act%20Overview%20Memo.pdf