FOR IMMEDIATE RELEASE
(Washington, D.C. – March 10, 2021) Today, Senator Richard Durbin (D-IL) reintroduced an ambitious bill that would significantly cut climate pollution across the economy while investing in mitigation, adaptation and the economic well-being of communities across the country.
By enacting a fee on carbon emissions across the economy, along with clear emission reduction goals and provisions to help make sure those goals are met, this bill would significantly curb climate pollution, while giving most of the revenue back to Americans through an income-based rebate that protects lower-income and middle-income households.
The America’s Clean Future Fund Act would also create the Climate Change Finance Corporation, an independent federal agency tasked with providing resources to finance clean energy, climate resilience, and other climate mitigation and adaptation projects. These projects would have a focus on increasing equity by ensuring a significant amount of the funds go to environmental justice communities. The bill also establishes grants for agricultural stakeholders to adopt carbon-reduction practices as well as grants for transition assistance in fossil-reliant areas.
“The costs of climate change only climb higher with every year that we delay strong action. Investing today to cut climate pollution and create more resilient communities is fiscally responsible and creates good jobs and a healthier society. The America’s Clean Future Fund Act tackles these challenges head on, and works to assure that the transition to a clean energy future benefits everyone. This bill rightly seeks to prioritize funding for environmental justice communities and transition assistance for areas reliant on fossil fuel production. It also recognizes the important role that rural communities and the agriculture sector can play in a cleaner future.
“EDF commends Senator Durbin’s leadership in introducing the America’s Clean Future Fund Act, a sound and thoughtful proposal to address climate change that invests in building stronger, more resilient American communities.”
- Elizabeth Gore, EDF Senior Vice President, Political Affairs.
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