[Congressional Record Volume 157, Number 160 (Monday, October 24, 2011)]
[Extensions of Remarks]
[Page E1914]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                INTRODUCTION OF THE SAVE OUR CLIMATE ACT

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                        HON. FORTNEY PETE STARK

                             of california

                    in the house of representatives

                        Monday, October 24, 2011

  Mr. STARK. Mr. Speaker, I rise today to reintroduce the Save Our 
Climate Act, a bill that will create a simple tax on carbon. A carbon 
tax is a straightforward way to reduce our dependence on fossil fuels, 
spur development of alternative energy, slow climate change, and 
decrease our deficit.
  The impacts of climate change become more severe with each year we 
fail to act. The ten warmest years on record have all occurred since 
1990. Extreme weather events like droughts, floods, and violent storms 
are becoming more common as the planet gets hotter.
  Our continued addiction to burning fossil fuels not only accelerates 
climate change it is also a drag on our economy. We need a policy that 
discourages the use of fossil fuels and promotes investment in 
efficiency and alternative energy sources. The simplest solution is a 
carbon tax.
  My legislation imposes a tax on each ton of carbon dioxide contained 
in a fuel. The tax is imposed upstream, at the point of manufacture or 
import where it is easiest to administer. No new bureaucracy will be 
needed.
  The tax increases every year at a predictable rate so that the 
market, including investors and individuals can adjust to the tax and 
plan for the future. Unlike a cap and trade system, a carbon tax does 
not require a complicated trading market, auctions, or an exchange to 
function and it is insulated from speculation and volatile swings in 
pricing.
  A steadily rising carbon tax will provide the certainty American 
businesses need to make the long-term investments in new energy sources 
that will break our addiction to fossil fuels. The United States can be 
the leader in green energy. A carbon tax will help to unleash American 
innovation and create jobs. That is why economists across the 
ideological spectrum--from Arthur Laffer and Alan Blinder on the right, 
to Jeffrey Sachs and Joseph Stiglitz on the left--have endorsed the 
idea. Through border adjustments, my legislation will protect American 
manufacturers and ensure that imported goods from countries like China 
are not given an unfair advantage over American products.
  At a time of deep budget cuts meant to reduce the deficit, a carbon 
tax can be part of the deficit solution. My legislation will dedicate 
$437 billion toward deficit reduction over 10 years. In addition, the 
Save Our Climate Act will protect families from increased energy 
prices. Revenue generated will be distributed back to individuals as a 
yearly dividend to all Americans. The average dividend in the first 
year of the bill would be $172 per person, rising to $761 in the fifth 
year and $1126 in the tenth year.
  We have a moral obligation to act to prevent catastrophic climate 
change and preserve our planet for future generations. The Save Our 
Climate Act is a first step toward meeting that obligation and creating 
a sensible tax code that incentivizes innovation and rewards 
responsibility. I encourage all my colleagues to support it.

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