Carbon Pricing Bill

This bill imposes a $15 per ton of carbon dioxide fee on all fossil fuels at their point of entry into Rhode Island. The fee would then increase by $5 per year. This fee will generate approximately 150 million dollars in revenue in the first year (2016) and will increase by approximately 50 million dollars in each succeeding year. The revenues can be used to generate direct rebates to individuals and business, to capitalize the anticipated green bank, or to fund renewable energy, energy efficiency, and other carbon reducing strategies.