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Senators Sanders, Boxer propose legislation to institute GHG price on large stationary sources and remove support for fossil fuel industries

Green Car Congress

The legislation also proposes numerous actions against financing and support for fossil fuel industries. Among the financing provisions of the legislation are: Price on carbon. The legislation would enact a fee of $20 per ton or carbon or methane equivalent, rising at 5.6% per year over a 10-year period. Rebate program.

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Perspective: Regional Greenhouse Gas Cap-and-Trade Programs May be the Solution

Green Car Congress

Cap-and-trade was first tried on a significant scale twenty years ago under the first Bush administration as a way to address the problem of airborne sulfur dioxide pollution–widely known as acid rain–from coal-burning power plants in the eastern United States. Senators Lindsey Graham (R-S.C.), John Kerry (D-Mass.) Reduced Output.

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