Cap and Dividend Resources
Cap & Dividend - a System to Benefit Taxpayers, not Wall Street
Click Here to Support the CLEAR Act - a Bill Structured to Protect Taxpayers!
On Friday, December 11, Senators Cantwell (D - Wash.) and Collins (R - Maine) introduced "cap and dividend" legislation as an alternative to "cap and trade" in the US Senate. The CLEAR act is a simple 40 page proposal. Here is how it works:
- A cap on emissions is set.
- Polluters pay for 100% of the permits to emit global warming-causing emissions. Permits are sold up to the cap and none are given for free.
- 75% of the revenue generated is returned to taxpayers as a dividend, the other 25% is used for investment in clean energy and energy efficiency.
- The dividend would likely be in the form of a monthly check of about $100 per month for an average US family, thus protecting low and middle income individuals and families more effectively than cap and trade.
Cap and dividend is a simple program that will effectively reduce emissions and will benefit taxpayers, not Wall Street. In contrast, Peter Orszag,
Director of the non-partisan Congressional Office of Budget and Management has
said that a cap and trade program as proposed by Kerry-Lieberman would result
in “the largest corporate welfare program that has ever been enacted in the
history of the United States”. The
CLEAR Act, however, would directly benefit taxpayers, not Wall Street. Click here to see NEE's position paper on current cap and trade proposals.
New Energy Economy joined seven other state-based groups to develop an analysis conducted by the Political Economy Research Institute (PERI), “Options for Protecting Households in Climate Policy.” The report shows that low and middle income Americans will fare much better under a cap and dividend program – as opposed to cap and trade. The NM local business community has come out in strong support of cap and dividend. Over 240 businesses have signed in support of cap and dividend.
Click here to see NEE's press release on Business Support for Cap and Dividend.
