President Biden’s efforts to eliminate our reliance on fossil fuels [“Biden signs orders aimed at eliminating nation’s reliance on fossil fuels,” IBJ.com, Jan. 27] are a welcome start to combating climate change on many fronts.
Criticizing these initiatives as job killers could not be more shortsighted. In a major policy shift, the U.S. Chamber of Commerce last week said it “supports a market-based approach to accelerate greenhouse gas emissions reductions across the U.S. economy.” One such strategy is carbon fee and dividend legislation (introduced in 2018 as HR763: The Energy Innovation Act).
Upon implementation, carbon emissions would drop by 40% over 12 years, while creating more than 2 million jobs, adding $70-plus billion to our GDP and providing a monthly dividend to all U.S. households—all without introducing a single new regulation. That’s probably why new Treasury Secretary Janet Yellen and U.S. Rep. Andre Carson have added their voices in support of this popular solution. I encourage all of our senators and congresspeople to heed the call.