Climate Change and Basic Income
Climate Change and Basic Income. The Sky Trust initiative is a proposal to use market-based incentives to efficiently reduce the U.S. economy?s massive output of greenhouse gases. All entities introducing fossil fuels into the U.S. economy would be required to obtain emission permits for the carbon in that fuel. The U.S. government would auction emission permits for 1.346 billion metric tons of carbon, the 1990 emission level. Initially 75% of the receipts from government sales of emission permits would be returned in equal annual payments to each U.S. legal resident. In the plan?s first year, 25 percent of proceeds from sale of permits would be made available to offset any unusual burdens imposed on either producers (firms or employees) or on consumers (such as people who must drive long distances).
By Centre for Economic Development, US.