Senators to unveil carbon tax bill to generate $2.5 trillion in 10 years

Two Democratic U.S. senators will unveil a bill on Thursday to curb climate change by slapping a fee on oil, natural gas, and coal and delivering most of the revenues to low- and middle-income Americans, one of the lawmakers said.

Senator Chris Coons said on Wednesday he and Senator Dianne Feinstein will introduce the Climate Action Rebate Act, which aims to generate $2.5 trillion in revenues over 10 years starting in 2020.

It would rebate about 70 percent of the money to families that make less than $130,000 per year and use the rest for energy infrastructure, job retraining for fossil fuel workers, and research and development.

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  1. This is one of the most stupidest bills I’ve ever seen introduced. If they take a.k.a. steal over $2 trillion by taxing businesses the public will end up paying that out of their pockets in higher costs it is totally insane and irresponsible on the part of lawmakers to be sucked into this idea . Is it possible that people would be so gullible as to embrace this idea ?

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