Hawaii Senate Bill SR99

Hawaii 2023 Regular Session

• Introduced: 3/10/23
• Refer: 3/15/23

Caption

Urging The United States Congress To Adopt National Carbon Fee And Dividend Legislation.

Impact

If enacted, the carbon fee and dividend system proposed in SR99 would represent a significant shift in national environmental and economic policy. The bill aims to standardize a national tax on greenhouse gas emissions, providing a financial incentive for both businesses and consumers to reduce fossil fuel consumption. The resolution notes that many economists, including notable figures like Nobel Laureates, support this approach. The anticipated outcome is not only to lower emissions but also to bolster the economy by enabling citizens to utilize dividend refunds as they choose, thereby maintaining consumer spending even as prices adjust in response to the carbon tax.

Summary

Senate Resolution 99 (SR99) urges the United States Congress to adopt national carbon fee and dividend legislation as a means to mitigate climate change through substantial reductions in greenhouse gas emissions. The resolution begins by highlighting alarming statements from United Nations Secretary General Antonio Guterres regarding the escalating climate crisis and the urgency of addressing related environmental issues. It underscores the critical need for new policies to meet the greenhouse gas emission reduction goals set by the 2015 Paris Climate Agreement. Among the solutions proposed is a carbon-pricing policy that taxes fossil fuel use and returns revenue to households, promoting economic equity while addressing environmental impacts.

Contention

While the resolution expresses strong support for a national carbon fee and dividend program, it also acknowledges the complexities involved in its implementation. Critics of carbon tax proposals often argue about potential negative impacts on low-income households and the competitiveness of U.S. businesses in a global market. Moreover, there are concerns regarding the political viability of such legislation amidst conflicting views on climate policy among members of Congress. Ensuring that the revenue generated is equitably shared among citizens while maintaining robust economic activity will be a pivotal aspect of the debates surrounding this resolution.