Guest Opinion: It's time to put a price on carbon

For many of us, our New Year’s resolutions are already drifting into the realm of to-do lists that we’ll get to later on, pushed into the background of our lives. But, unfortunately, we can’t treat the problems facing our country and our planet the same way. In an era already oversaturated with issues, and when inflation and the economy are primary concerns amongst citizens, we need to speak louder for actions that address multiple problems at once. Build Back Better is still being discussed in Congress, stalled, but not dead. Senator Joe Manchin, D-West Virginia, has made it clear that climate policy is the part of the package “that we probably can come to agreement [on] much easier than anything else.” The intersection of economy and environment represents an opportunity for change.

There is a way to help safeguard against rising costs while also taking real action to meet President Biden’s climate goals for 2030. The answer is putting a price on carbon. We need to keep up the pressure to get critical environmental policies passed, even if it means putting other parts of BBB on hold for now. If 49 senators support the bill, and Manchin says he can get behind climate policy, then the rest of the Democrats need to find a version that works for all 50 of their members in the Senate, or they’ll never get anything passed at all.

If you are equally concerned about the state of both our climate and our economy, there’s something you can tell our legislators to do, and it’s something that isn’t being talked about enough right now. If you have never heard the terms “carbon fee and dividend,” here’s the overview: polluters pay a set price per ton on carbon emissions, starting at a low rate and increasing yearly, then the revenue generated gets distributed equally to the people. This is a nonpartisan and market-driven solution that requires no expansion of government. As a tax, carbon pricing would be channeled through existing structures.

Dividends through carbon tax can’t be our only solution to inflation, but they can be a multifaceted tool in our arsenal. Lower- and middle-income families need more ways to stay financially stable while prices continue to skyrocket. We can help the environment at the same time. Carbon fee and dividend isn’t some theoretical solution; it’s already being enacted successfully in Canada. There are real-world examples of this working.

By starting as a lower tax and gradually increasing over time, companies are incentivized to make internal changes and pivot to practices and technologies that are both environmentally and financially stable. Our worsening climate has devastating, long-term economic effects. If we are (rightly) concerned about the economy right now, we need to stop it from worsening in the future.

Maybe as that resolution to hit the gym every day is already feeling burdensome, consider a goal that extends beyond the individual. I implore you to read more about the Energy Innovation and Carbon Dividend Act and to look for local groups where you can get involved, such as the Citizens’ Climate Lobby. It’s not feasible to look at the problems facing us as disjointed and separate; the challenges ahead are all interlinked. From finance to the environment to social change, we can start 2022 right by pressuring Congress to protect our country and our economy by protecting our planet.

Matthew Sooby is an intern with the Citizens’ Climate Lobby communications department. He lives in Doylestown.

This article originally appeared on Bucks County Courier Times: Guest Opinion: It's time to put a price on carbon