U.S. Cap-and-Trade System to Tackle Climate Change, Boost Equity
A cap-and-trade system is proposed to tackle climate change in the US. It sets limits on emissions and allows trading of permits. This system aims to reduce greenhouse gases gradually, provide certainty for businesses, and distribute allowances fairly. Half of the permits would be sold, generating revenue for public use, while the other half would be given to those most affected by the policy. This approach is seen as effective, as it aligns with international efforts and avoids the political resistance to taxes in the US.