CORRESPONDENCE - 55E - Laserfiche WebLink

Home Browse Search

Points about strength of the policy and economic stimulus to city Good evening Council members, First, I want to say I appreciate you and the city staff for your service. Having attended previous city council meetings and this one, I appreciate the variety and amount of issues and decisions that require dedicated work and attention. Thank you especially this evening for your consideration to adopt a resolution to Congress in support of the Energy Innovation and Carbon Dividend Act, H.R. 763. Several of us residents are travelling to DC in the next few days, joining over a thousand other citizens to lobby members of Congress, adding our voices to your resolution. We know that the policy is not the whole solution to the menace of climate change —it addresses emission reduction only--, yet it is an essential component, a strong, economy -wide incentive to move away from fossil fuels and their harmful effects to health and the environment. It is also the most aggressive policy to reduce emissions --not matched by any other bill introduced in Congress in the past decade. Our clean energy technologies will be ready to supply us the energy we need. The amazing thing is that the policy will have other benefits. It can provide a significant economic stimulus to our city. The dividends increase while the carbon fee imposed on fossil fuel corporations is raised annually. When fossil fuel use diminishes enough, the dividends will in turn gradually be reduced and end within some thirty or so years, thus weaning families gently from the extra income. During the existence of the dividend, individuals with low- and middle -income will spend most of it, stimulating the local economy. For a city our size it will mean several hundred million dollars coming in, spent on healthcare, retail and housing. It will be taxable income, yet the dividend will not be included in means testing for federal assisted programs. The chart illustrating this point that I submitted by email had a calculation error, so I am submitting a corrected one to replace it. For the sake of our health, our environment, our city, nation and world, please adopt the resolution. Thank you.