There are various market-based approaches to pricing carbon (e.g. carbon tax, cap and trade, and a clean energy standard). All of these can reduce emissions cost-effectively while driving clean energy innovation. This factsheet compares six carbon tax and cap-and-dividend proposals introduced in the 116th Congress (2019–2020). The six proposals are:
- The Energy Innovation and Carbon Dividend Act of 2019 (H.R.763) introduced by Reps. Ted Deutch (D-Fla.) and Francis Rooney (R-Fla.) on Jan. 24, 2019;
- The Healthy Climate and Family Security Act of 2019 (S.940 and H.R.1960) introduced by Sen. Chris Van Hollen (D-Md.) and Rep. Don Beyer (D-Va.) on March 28, 2019;
- The American Opportunity Carbon Fee Act of 2019 (S.1128) reintroduced by Sens. Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawaii), Martin Heinrich (D-N.M.), and Kirsten Gillibrand (D-N.Y.) on April 10, 2019;
- The Climate Action Rebate Act of 2019 (S.2284 and H.R.4051) introduced by Sens. Chris Coons (D-Del.) and Dianne Feinstein (D-Calif.), and Rep. Jimmy Panetta (D-Calif.) on July 25, 2019;
- The Stemming Warming and Augmenting Pay Act of 2019 (H.R.4058) introduced by Reps. Francis Rooney (R-Fla.) and Dan Lipinski (D-Ill.) on July 25, 2019;
- The Raise Wages, Cut Carbon Act of 2019 Act of 2019 (H.R.3966) introduced by Reps. Dan Lipinski (D-Ill.) and Francis Rooney (R-Fla.) on July 25, 2019; and
- The America Wins Act of 2019 (H.R.4142) introduced by Rep. John Larson (D-Conn.) on August 2, 2019.
Updated: Includes Rep. Larson’s America Wins Act of 2019.