And the CP results in populist appeal
Tiwari and Snyder 21 – [Siddharth Tiwari has been a thought leader, global policy maker and a member of senior management teams in large, complex, global financial institutions, including the BIS and IMF, and his work has spanned across 5 continents. Tiwari holds degrees in Economics from the University of Chicago, the London School of Economics and the University of Delhi. Nicholas Snyder has a A.B from Harvard University and has worked in the United States Department of State for 2 decades, “There Is No Planet B. So Let’s Not Settle for Climate Strategy B,” Columbia University, 2021, http://www.columbia.edu/~jeh1/Documents/TiwariSnyder.OpEd.2021.pdf] - PG
Second, a smart policy design would substantially increase the popularity of the policy. In particular, the carbon dividends approach would charge fossil fuel companies a fee for their emissions and return the money collected to the American people as direct checks. This would both establish the market incentive needed to accelerate clean energy and cut emissions, while also putting money back in the pockets of American workers and families. The recent Child Tax Credit and COVID relief measures underscore just how popular direct checks can be. This approach, originally mainstreamed by President Trump, would convert carbon pricing into a strategy with strong populist appeal. Given these benefits, the carbon dividends framework has been steadily gaining traction, especially among young people. Last year, over 400 college student body presidents from across the country signed a letter in support of carbon dividends—the largest-ever statement of U.S. student government leaders on any topic