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April 6, 2009

Cap and Dividend Bill Introduced in Congress

Commons-based approach to curbing global warming proposed by Rep. Chris Van Hollen

Rep. Chris Van Hollen (D-Md.), a key member of the House of Representatives Democratic leadership, introduced legislation April 1 to launch a federal Cap-and-Dividend policy to curb the climate crisis.

This approach to reducing global warming, formulated by On The Commons co-founder Peter Barnes, employs a commons-oriented strategy based upon the principle that the sky belongs to all of us. Carbon emissions will be reduced under the Van Hollen Cap and Dividend Act of 2009 through the auction of permits for companies to release carbon into the atmosphere. The money will be returned to American citizens on an equal per capita basis.

The legislation is designed to significantly cut carbon emission by 2020 at the same time as helping American households cope with rising energy prices and boosting development of clean energy sources.

For more information, see the Cap and Dividend website