|You might favor this bill if:
► You believe that climate change is a real threat to our nation’s future well-being and we need to prepare ourselves accordingly for the future complications it will bring. Establishing a fund dedicated to funding climate change adaptation programs is a great start towards the preparedness against climate change.
|You might oppose this bill if:
► You believe that climate change is a hoax perpetrated with the intent of further taxing Americans. Setting up a fund for climate change obligations will not benefit our country.
The Climate Change Adapt America Fund Act would establish a commission known as the “Climate Change Advisory Commission” and establish the “Adapt America Fund”. Specifically, it would require the Treasury to issue climate change obligations, whose proceeds will go to the Adapt America Fund.
The newly created Climate Change Advisory Commission would establish recommendations, frameworks, and guidelines for a Federal investment program funded by revenue from the Adapt America Fund. The programs would fund projects that help reduce economic, social, and environmental impact of the adverse effects of climate change.
The Climate Change Advisory Commission would be created and composed of eleven members, selected from the public and private sectors and institutions of higher education. Members would be appointed for the life of the commission.
Membership of the commission breaks down in the following manner:
- 3 would be appointed by the President, in consultation with the Interagency Climate Change Adaptation Task Force;
- 2 would be appointed by the Speaker of the House of Representatives;
- 2 would be appointed by the minority leader of the House of Representatives;
- 2 would be appointed by the majority leader of the Senate; and
- 2 would be appointed by the minority leader of the Senate.
The “Adapt America Fund,”funded by the Treasury Department, would provide funds to eligible applicants to carry out projects with the purpose of climate change impact adaptation. All amounts in the fund are to be used solely to fund new projects in accordance with the bill. Eligible programs would include:
- Federal agencies;
- a State or a group of States;
- a unit of local government or a group of local governments;
- a utility district;
- a tribal government;
- a State or regional transit agency or a group of State or regional transit agencies;
- a nonprofit organization;
- a special purpose district or public authority, including a port authority; and
- any other entity, as determined by the Secretary of the Treasury.
The fund is modeled after the War bonds of WWII where, according to Senator Barbara Boxer, “everyday Americans stepped up and they invested $185 billion, two trillion in today’s dollars, to protect our nation and our future. We need the same commitment today to protect our communities and future generations as we work to adapt to climate change.”
Sponsored by: Rep. Deutch, Theodore E. [D-FL-22].
Cosponsored by: 0 Rep / 0 Dem.
Sponsored by: Sen. Durbin, Richard J. [D-IL].
Cosponsored by: 0 Rep / 0 Dem.