A group of Nobel Prize-winning economists and former top economic advisers to presidents of both parties has proposed a plan to address climate change. Their "Economists' Statement on Carbon Dividends" advocates putting a consistently rising price on carbon dioxide emissions and returning the money to the American people.
These economic leaders conclude that the price signal will encourage technological innovation and steer our economy toward a low-carbon future.
Returning the revenue to households will shield consumers from rising energy prices, and "the majority of families, including the most vulnerable, will benefit financially." A border carbon adjustment would protect U.S. competitiveness and encourage other nations to adopt their own carbon pricing systems.
A bipartisan bill embracing these principles has been introduced in the House of Representatives: the Energy Innovation and Carbon Dividend Act. A good deal of time is spent debating the nonbinding Green New Deal resolution, yet there is current climate legislation that also deserves public discussion.
The first sentence of this Economists' Statement asserts: "Global climate change is a serious problem calling for immediate national action."
Let's reach across divides and provide U.S. leadership in the fight to slow climate change.
• "Economists' Statement on Carbon Dividends," econstatement.org
• Council of Economic Advisers (chairs for recent presidents), en.wikipedia.org/wiki/council_of_economic_advisers
• Energy Innovation and Carbon Dividend Act, energyinnovationact.org/how-it-works
Hales Corners, Wis.