www www.En Energy gyIndependentVT VT.org rg
Who We Are re A growing coalition o of di diverse se g groups, s, b busi sinesse ses s and c conc ncern rned citizens ns, i incl ncluding: g: Vermont Yankee Decommissioning Alliance
Ou Our G Goal als Substantiall tially r red educe V VT’s c s carb rbon pol ollution tion • Create e economic b benefits t to the s state and grow j jobs bs • Do o so o in a way ay t that i is eq equita table f for or l low ow-income VTer ers •
Ou Our Pl Plan 1) P Put a a pric ice on on carb rbon p pol ollution ion. 2) I Invest i in V Vermonters by helpi ping us s save mo money and c cut pollu llutio ion. 3) Cut t taxes f s for or V Ver ermonters a and Verm ermon ont b busin siness sses 90% t tax cuts a and reb ebate tes for or V Ver ermon onters 10% i investments i in efficiency & & clean e energy 100% 100% s stays i in n Vermont
1) P Put t a pric ice on on carbon p pollu lutio tion • Assessment o on C n CO2 po pollu llutio ion, a applie lied t to he heatin ing a and nd tran ansportation on f fuel els • Exem empts ts el elect ectricity ty ( (covered b by R RGGI n now) • Price p per t ton n – Differ eren ent s scen enar arios – $50, 50, $ $100 100, $ $150 150/ton – Phased ed i in ov over er 1 10-15 y 15 years ( s (15 15 yrs rs in 1 150/ 50/ton) • $50/ 50/ton s scenari rio g generates $ s $30 m 30 m/year i r in 2 2018 018; $ $250 250/year r in 2 2027 027 • Applied a at d distributor l level
2) H Hel elp V Ver ermonters s save m mon oney a and cu cut t carbon p pollution 10 PER PERCEN ENT t to Low i income W Weatherization & & an En Energy I Independence ce F Fund Help lpin ing pe people le t transitio ion o off fossil l fuels ls… 1.0% 1.0% 4.0% Heating efficiency 4.0% Transportation efficiency Vehicular efficiency Weatherization Solar tax credits
3) C Cut t taxes f for or V Ver ermonters & & VT bu T busi sinesse sses 90 PERC ERCEN ENT d directl tly b y bac ack t to Vermo mont nters thro rough tax cuts an and r rebates. Rebates to individuals 45.0% Corporate income 22.5% tax cuts Rebates to 22.5% employers
We e are c com ommit itted t to addressin ing th the nee eeds of of l low-in income V Ver ermonters. • Wor orkin ing w with l low ow-income advocates a and e experts t to shape the b best est p pol olic icy p possib ossible le • Initial ial con oncept: A Appro roxim imate tely ly 1 10 per ercent of t of rev evenue ded edicated t to o addition ional l reb ebate f for or t the l e low owest est 40 per ercent of of V Verm ermont income-earners • Every V Vermonte ter gets ts t the p per a adult rebate, a and low- income i individ iduals ls g get et additional al mon oney s soon ooner r (poss ossib ible w way ays: s: E EBT c card rd, r reg egular c r check)
Reg egion ional l Econ onomic ic Mod odel els, s, I Inc. ( (REMI) mod odeli eling of of imp mpacts on on V Verm ermont’ t’s econ onom omy, c carbon pollu llutio ion. Carbon Pollution (metric tons CO2) 8 Ca Carbon p pollu lutio ion go goes d down 7 • Tonnes (millions) 6 Economic ic i indic icators go go up • 5 High gher p r pollution t tax = = bigge gger r benefits ts 4 • 3 2 WHY? W We sa save m money by by u usi sing l less ss 1 0 fossil f il fuel. l. Total Employment Gross State Product 3,500 $160 $140 3,000 $120 2014$ (millions) 2,500 $100 Net jobs 2,000 $80 1,500 $60 1,000 $40 500 $20 0 $0 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040
REMI A Analy lysis is: I Income b by quin intile ile 1.2% 1.0% 0.8% Change from baseline Lowest 20% 0.6% Low-Middle 20% Middle 20% 0.4% High-Middle 20% Highest 20% 0.2% 0.0% -0.2%
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