Earth Day often brings warnings of a dark and uncertain future.

Looming most darkly is global warming, as temperatures increase and extreme weather abounds. In our area, climate change brings increased flooding, record-breaking cold temperatures and devastating storms. Vector-borne diseases like Lyme are on the rise and food prices are vulnerable to far-away droughts. Onerous infrastructure repair and reinforcement are becoming commonplace.

The science is clear. If we continue on our current path, these problems will intensify. If we cut our carbon emissions, these problems will remain manageable.

But can we meaningfully cut our emissions without crushing our economy? Do we really have any control over other countries’ emissions?

The answer is “yes.”

Yes, we can meaningfully cut our emissions and we can push other countries to do likewise.

The answer is the Revenue Neutral Carbon Fee and Dividend (RNFAD).

This fee is charged on all carbon-emitting products. People will be less likely to buy products that emit carbon. They will be more likely to buy renewables, LEDs, electric vehicles and local foods. This free-market solution will shift all of us toward renewables and the infrastructure it requires.

Why say “fee”? Isn’t this just a tax? One of the great things about the RNFAD is the “revenue neutral” part. All money collected is returned in equal amounts to all citizens. This policy does not grow government. In fact, economic studies project that the poorest two thirds of the citizenry collect back more in the dividend than they pay in the fee. The wealthiest third use their capital to drive the infrastructure changes and economies of scale required to shift our economy to renewables and other carbon-free energy and products.

Will it actually cut emissions if people just get the money back? Yes. Economists project that the RNFAD will cut emissions 33% in 10 years and 52% in 20 years. The reason is simple. Just because you get a check back from the government doesn’t mean you will want to spend it on the more expensive item.

Won’t cutting coal, oil and gas hurt our economy? If we suddenly charged huge amounts on carbon, all at once, we would cripple our economy. People would starve and freeze, unable to afford gas or heating oil. However, the RNFAD starts small, with just $15/tonne of carbon, and adds $10/tonne each year thereafter. This allows us to transition slowly. It would add, nationally, 2.8 million jobs in 20 years and cause the economy to grow. Here, in the tri-state region, that means a net gain in GDP of $13.7 billion by 2025, a net increase of 260,000 jobs, and increases in per capita income.

Cutting emissions in the U.S. alone doesn’t solve the problem. Won’t China’s growing emissions dwarf these efforts? Amazingly, no. If a country exports carbon to our country, it must pay the fee too. However, if it implements a comparable price on carbon in its own country, it pays us no fee. Surely, a country like China would rather collect that money than fill U.S. coffers. With this elegant and simple legislation, the U.S. will lead all other nations to do the right thing.

Many ask “even if the science is settled, can we really afford to cut emissions?” The answer is plain. Of course we can. In fact, we can create a robust carbon-free economy. Catastrophic warming does not have to be our destiny. We simply must decide to seize this moment and ensure that Earth remains a place where we can live, with a revenue-neutral carbon fee and dividend.

For economic projections see citizensclimatelobby.org/wp-content/uploads/2014/06/REMI-carbon-tax-report-62141.pdf.

[Claire Cortright of Glen Spey, NY is a member of the MidHudson Valley Citizens’ Climate Lobby.]