With the European Union agreeing to much more aggressive greenhouse gas emission reductions, 55% by 2030, the United States must quickly take similar actions or risk losing access to the second-largest economy in the world. And we really have no choice.
Part of the EU “green deal” includes a border carbon adjustment which will add a levy to products being imported from countries that don’t have emission reduction goals that are as hard-hitting as those of the EU. So prices for goods from the U.S. stand to be marked up because of our disregard for the climate crisis that is affecting everyone on the planet.
There’s a fast way to catch up. The Energy Innovation and Carbon Dividend Act (EICDA), which has 84 co-sponsors in the House, places an increasing fee on fossil-fuel emissions at the source (mine, well, port of entry) and returns the fee to every American as a monthly dividend. Those with a small “carbon footprint,” typically households with lower incomes, will come out ahead as the dividend will more than offset the increase in cost of carbon-based products. And the legislation includes a border carbon adjustment similar to what the EU will be putting in place.
Learn more about EICDA at energyinnovationact.org and urge your member of Congress and Senators Casey and Toomey to pass this important legislation so we don’t lose our access to the European Union market.
Bruce Cooper
Cranberry Township