Answer: CCL wanted to find out how well a carbon fee and dividend would work, so in 2014, they hired an independent modeling firm – Regional Economic Models Inc. (REMI) – to do just that. The REMI study [1] examined the effects of a carbon fee starting at $10 per metric ton of CO2 [2] and going up $10 a year for 20 years, with all proceeds returned to households. This is a little less ambitious than the Energy Innovation and Carbon Dividend Act, [3] but is a fair representation of the type of policy proposed in the bill. In addition to the national economy, emissions, and changes in energy industries, the REMI study looked at economic impacts across the U.S. The study then compared these results to a business-as-usual case where there is no price on carbon. Here are the results, compared to business as usual: The take-home message is that a plan like the Energy Innovation and Carbon Dividend Act will strengthen the economy and creates jobs while slashing CO2 emissions and improving Americans’ health. More details, regional summaries, graphics, and slides can be found on the REMI report web page. [4] This page was last updated on 01/27/19 at 21:17 CST.The REMI Study Laser Talk
Question: How do we know the carbon fee & dividend plan will really work?
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