In his speech on climate change, Ted Halstead announces his desire to prevent the serious potential impacts of climate change from having dire consequences for his young daughter, those in her generation, and other generations to come.
Halstead makes the case for a Republican solution to climate change, in an ambitious attempt to find a compromise for what is becoming an increasingly partisan issue – particularly in the United States. He came up with the Conservative Case for Carbon Dividends with top Republican leaders along with business leaders, which outlines four steps. The first of these is a gradually rising carbon tax, which would then be dispersed equally as monthly dividends for citizens. This would be both a popular and populist solution and would empower the working class – since a starting rate of $40 p/ton carbon tax would result in the bottom 70% of Americans receiving more in dividends than they would pay in the inevitable increase in energy prices. The next two phases of this initiative would include regulatory rollbacks, which business leaders would be able to get on board with, and a climate "domino effect" as a result of import taxation, which Halstead assumes will provide a new incentive for countries to implement their own carbon dividend program to help their own citizens.
Halstead makes an excellent case for his initiative, although he does not take into account the rampant climate change denialism that can be observed across the U.S., particularly in Republican circles and conservative regions. With a solution that business leaders, conservative leaders and working class people may all be able to benefit from, Halstead hopes that all the cards fall into place.
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