Representative Van Hollen Introduces Cap and Dividend Legislation

Representative Christopher Van Hollen (D-MD) introduced the Cap and Dividend Act of 2009. The proposal calls for a cap on carbon that would reduce emissions 25 percent from 2005 levels by 2020, a 5 percent higher short-term target than the Waxman-Markey draft cap and trade bill recently released, though long-term targets are similar.

Van Hollen’s proposal would auction all pollution permits and 100 percent of proceeds would be distributed to legal US residents. “The science of climate change can be complicated, but the legislative solution doesn’t have to be,” said Van Hollen in a statement. “The strength of cap and dividend lies in its simplicity and durability.”

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