Sens. Chris Coons, D-Delaware, and Jeff Flake, R-Arizona, recently introduced bipartisan legislation to pay a monthly dividend to every American family.

The Energy Innovation and Carbon Dividend Act places an increasing price on carbon and other greenhouse gas emissions, designed to drive down pollution, address climate change and encourage market-driven innovation in clean energy technologies. Revenues received will be returned directly to the American people in the form of a monthly dividend, protecting energy consumers and low- and middle-income households. The legislation aims to help accelerate American innovation to advance clean energy solutions, incentivize our trading partners to lower emissions, and prevent thousands of pollution-related deaths annually.

A related bill was introduced in the U.S. House of Representatives by Reps. Ted Deutch, D-Florida; Francis Rooney, R-Florida; John Delaney, D-Maryland; Brian Fitzpatrick, R-Pennsylvania; and Charlie Crist, D-Florida.

“Climate change is a serious threat to our economy, our security, and our way of life, and we need leadership from all parts of our society and government to tackle it,” said Coons. “Putting an economy-wide price on carbon and other greenhouse gases is a comprehensive way to reduce emissions, spur innovation and create jobs. I am proud to introduce this legislation with my good friend Jeff Flake, who has long been a champion of market-based climate legislation since his days in the House. I am hopeful that we will continue to have bipartisan conversations about addressing this issue.”

A one-pager on the bill is available at bit.ly/2UUnVCN, and the full text of the bill is available at bit.ly/2BuS5Ui.