Regulatory Developments

Senate Bill Seeks To Make America 100 Percent Clean Energy By 2050

April 30, 2017

On April 27, 2017, Senators Jeff Merkley (D-OR), Bernie Sanders (I-VT), Edward J. Markey (D-MA) and Cory Booker (D-NJ) introduced legislation that would transition the U.S to 100 percent clean energy by the year 2050. The bill is the first introduced in Congress that fully envisions a transition off of fossil fuels for the U.S. The 100 By ’50 Act (S. 967) bill has seven core components:

  • Greening the Grid -- Phase-out fossil fuel electricity by 2050 and replace it with clean and renewable energy, through a mandatory fossil fuel phase-out and major investments in clean and renewable energy, storage, and grid infrastructure to ensure reliability and affordability.
  • Electrifying the Energy Economy -- Electrify transportation and heating systems with power from the clean electrical grid, through a national zero emissions vehicle standard, major investments in zero emission vehicles and zero emission heating systems, as well as carbon taxing authority for commercial aviation, maritime, and rail.
  • Clean and Renewable Energy for All -- Ensure that low-income and disadvantaged communities share in the benefits of a transition to 100 by 2050, through grants to make clean energy, energy efficiency, and public transportation affordable and accessible, and to provide job training in the clean energy sector.
  • Just Transition for Workers -- Provide a just transition for the people who work in the fossil fuel economy to find good jobs in growth industries of the future, and get fair benefits between jobs or in retirement.
  • Ending New Fossil Fuel Investments -- Stop the approval of major fossil fuel projects and end fossil fuel subsidies.
  • Ensuring American Competitiveness -- Make sure that energy-intensive U.S. products maintain a level playing field with products imported from other countries by imposing a carbon tariff for imported carbon-intensive products.
  • Mobilizing American Resources -- Create a major new source of funding to ensure a rapid and smooth transition to 100 by 2050 by auctioning Climate Bonds and investing the funds in the new programs created by S. 967.

 
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