An Analysis of the Energy Innovation and Carbon Dividend Act of 2019
Shaheen, Michael Joseph
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The United States and the rest of the world need to make drastic policy changes to address the increasing amount of carbon emissions that is escalating the climate change crisis. In recent years, climate change has cemented itself as a platform issue among Democratic candidates and lawmakers. The Green New Deal, proposed by Representative Alexandria Ocasio-Cortez [D-NY-14] and Senator Edward Markey [D-MA], has galvanized discussions on ways to counteract climate change. While that may be the most popular climate change policy in the media, a bipartisan solution may potentially be a better fit to mitigate the climate crisis. On January 24, 2019, Representative Ted E. Deutch [D-FL-22] introduced the H.R.763 – Energy Innovation and Carbon Dividend Act of 2019. The Energy Innovation and Carbon Dividend Act (EICDA) of 2019 is a carbon tax that will impose a fee across all levels of the United States on fossil fuels such as natural gas, coal, oil, and on other imports and producers. This independent analysis of the EICDA will evaluate its main goal to reduce carbon emissions substantially by 2030 and practically eliminate emissions by 2050. As discussed in this capstone, the EICDA may lead to an ample decrease in emissions, generation of revenue, creation of jobs, and a transformed green economy. The EICDA may face political feasibility issues that will be further discussed. Based on this analysis of the Energy Innovation and Carbon Dividend Act of 2019 would be aggressive to mitigating climate chance, however, the recommendation is to not pursue this bill currently.