To the editor:
Last Friday Bloomberg, The Hill and NBC reported that the Senate Finance Committee is considering a price on carbon beginning at $15 per ton and slowly increasing each year thereafter.
Bloomberg adds that this fee "would be paired with rebates for low-income taxpayers and a border-adjustment tax aimed at ensuring foreign companies don't get an advantage."
This is significant because a price on carbon is our best approach in addressing climate change. It would be effective, good for the health and welfare of our citizens and supportive of business and the economy. Finally, the fee would be returned to Americans to use as they see fit, making it revenue neutral.
Recently, we have seen severe flooding in our state. Our fellow Tennesseans have lost their homes, businesses and even their lives. This and other recent disasters illustrate that we cannot wait to unleash bold action to slow climate change.
Without a doubt, a robust price on carbon would ensure that America does its part to prevent the worst impacts of global warming. I urge Sen. Blackburn and Sen. Hagerty to support a price on carbon when it comes to the floor of the senate.