The bill would end fossil fuel subsidies, invest in job-creating climate solutions like energy retrofits, and pass a stiff price on carbon, 60% of the profits of which would be rebated, per capita, to ever legal U.S. resident.
“The legislation that Senator Boxer and I are introducing today with the support of some of the leading environmental organizations in the country can actually address the crisis and does what has to be done to protect the planet,” said Senator Sanders at an event in the Senate office building. “It can reverse greenhouse gas emissions in a significant way. It can create millions of jobs as we transform our energy system away from fossil fuel and into energy efficiency and such sustainable energies as wind, solar, geothermal and biomass.”