Senators Whitehouse and Schatz introduced legislation to put a fee on Carbon (via the “American Opportunity Carbon Fee Act”), imposed on all sources, including imports, with fees distributed to the general public. Senator Whitehouse gave a lengthy introduction to the legislation, linked below, and the text is available.

The fee would be US$42/ton of carbon dioxide ($11.45 equivalent per ton of Carbon), beginning in 2015, and increase 2% per year, without end, inflation adjusted. That’s very smart, I think, because it would essentially make Carbon-based energy unaffordable over time, and, so, eventually bring the bill itself into oblivion.