The economy grounded to a halt in many towns across our country including Livermore once shelter-in-place orders went into effect because of the Coronavirus. Congress has authorized trillions of dollars in deficit spending to stave off a recession by sending checks to Americans to spend. Any subsequent recession resulting from Coronavirus would be caused by a dramatic decrease in demand for goods and services. Fortunately, a solution for global warming might help cities across America including Livermore in our response to the coronavirus-based recession.
The Energy Innovation and Carbon Dividend Act, introduced into the House of Representatives as HR 763, is a steadily rising fee on the price of fossil fuels, with all the proceeds distributed monthly as a dividend to every American citizen. Over time, this influx of cash could be fine-tuned to the economic circumstances such as the next pandemic and natural disasters. In times of need our financial systems would be preserved, and the impending burden in the times of financial insecurity would be lifted from millions of Americans as well as Livermore residents.
The current pandemic can be thought of as an acute, short-term problem that requires emergency funding to keep families in their homes. Climate change, on the other hand, is a long-term threat to the places where we live including Livermore. By the end of this century, climate change is expected to shave 10% off the Gross Domestic Product (GDP) on an annual basis, and millions of residences will be threatened further by sea-level rise, drought and heat waves.
The Energy Innovation and Carbon Dividend Act (EICD) offers the near elimination of fossil fuels over 30 years with a dividend check to all Americans every month. All without raising the deficit.
These are challenges times on many levels. However, when the worst of the crisis id behind us, I will remember the cleaner air I breathed during my walks in Sycamore Park and the clear vistas from the lack of soot in the air you. Our individual actions by driving more infrequently and burning lower amounts of coal for electricity are the primary reasons. The implementation of our political will can provide the citizens of Livermore a course of action which prepares us for pandemics, resolves global warming, and builds a prosperous future. Please join me in my support of the Energy Innovation and Carbon