AGENDA ITEM REPORT
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A RESOLUTION URGING THE UNITED STATES CONGRESS TO ENACT THE ENERGY INNOVATION AND CARBON DIVIDEND ACT OF 2019.
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BACKGROUND:
House Resolution 763 (H.R. 763), the Energy Innovation and Carbon Dividend Act of 2019, has been introduced into Congress by several representatives in the House, including Congressman Ted Deutch. The intent of this legislation is to “create a Carbon Dividend Trust Fund for the American people in order to encourage market-driven innovation of clean energy technologies and market efficiencies, which will reduce harmful pollution and leave a healthier, more stable, and more prosperous nation for future generations.”
DISCUSSION:
H.R. 763 is a bipartisan bill, supported by Republicans and Democrats alike who recognize that climate is not a partisan issue. This policy is projected to reduce carbon dioxide emissions by at least forty percent (40%) in the next 12 years through incentivizing the use of renewable energy and accelerating private sector development of new green technologies. The City endeavors to be a good steward of the environment and its resources, and approval of this resolution supports the City’s commitment to environmental sustainability.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT: N/A