Sanders, Boxer Introduce Climate Protection Act

My only problem with this summary is using the collected fees to reduce national debt instead of going after the super-wealthy tax cheats who are creating the debt.

Senators Bernie Sanders (I-Vt.) and Barbara Boxer (D-Calif.) introduced the Climate Protection Act Thursday, legislation aimed at placing an initial $20 fee on each ton of carbon or methane emitted in order to reach a long-term goal of 80 percent green house gas emissions by 2050.

The Congressional Budget office estimates that these fees, which would rise at a rate of 5.6 percent over a decade, could result in $1.2 trillion in revenue over ten years.

As part of the proposal, $300 billion of that revenue gained would go towards reducing the national debt, with the remaining revenue going towards investment in manufacturing, renewable energy research and infrastructure.


Tags: Climate Protection Act

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