Energy Innovation and Carbon Dividend Act of 2021

April 22, 2021, local congresswoman Linda Sánchez and other 41 congress members made Earth Day special by sponsoring The Energy Innovation and Carbon Dividend Act of 2021. The bill plans to decrease pollution, boost the economy, and improve Americans’ health.

The Carbon Fee

Now fossil fuels like coal, oil, and gas will start at a low fee then will increase every year. Companies, leading industries, and the American people will start to use cleaner and cheaper options like solar energy. Businesses will then compete to create better energy solutions. The goal is to decrease carbon pollution by at least 30% in five years and get towards net zero by 2050. In addition, there will be an adjustment fee on goods to keep U.S. manufacturers and jobs going. Imported goods will pay an adjustment fee and exported goods will have a refund. 

The “Carbon Cash Back”

The money collected by the new carbon fee will become a monthly dividend. Families will receive money through the “carbon cash back”. The money can be used to transition to a new form of energy or meet a family’s needs. 95% of low and middle income families are projected to break even or be pushed financially ahead as well.

Help Americans’ Health

Ultimately, this bill will help improve the lives of many Americans. As of right now, one in 10 Americans die from poor air quality. With the bill in affect, the goal is to save 4.5 million lives over the next 50 years just by reducing the pollution in the air.