Businessman and former Maryland Rep. John Delaney released his climate plan as he tries to gain traction in a crowded Democratic primary
Delaney, like many other candidates, says his plan would drive the U.S. to net-zero emissions by 2050, meaning any remaining greenhouse gas pollution at that time would be offset by reforestation or other techniques that remove carbon from the atmosphere.Unlike others, however, Delaney centers his plan around a carbon “cap and dividend” program. The proposal would set a $15 fee on every ton of carbon dioxide emitted, which would increase by $10 per year until U.S.
On clean energy, Delaney proposes to increase funding for renewable energy five-fold at the DOE and “bolster” renewable energy tax credits, though no more details were given. Additionally, the campaign expects revenue from the carbon fee to be $3 trillion over a decade, with an additional economic impact of $650 billion. The impact of the carbon throughway project is expected to be $300 billion.Who would it help?
The “Carbon Throughway” project would create “tens of thousands of jobs,” according to the plan. That and enhanced funding of negative emissions technology will help “rural and heartland America the center of a massive new industry — carbon capture.”
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