Microsoft co-founder Bill Gates said he will vote yes on Initiative 1631 this November and will contribute to the Yes on 1631 campaign.
If I-1631 passes, Washington would be the first state to charge a direct fee or tax on carbon pollution to fight climate change in the U.S.
In a LinkedIn post, Gates urged others to vote with him to pass I-1631 this fall. Gates admitted he was skeptical at first, but said it’s important to remember what’s at stake.
“Climate change may be the toughest problem humanity has ever faced. To avoid the worst scenarios, we need to reduce global net greenhouse gas emissions to essentially zero in the next 50 years,” Gates wrote in the post. “Changing how we power our homes and cars won’t be enough. We also need to get to zero in every other major source of greenhouse gases, including manufacturing, transportation, and agriculture.”
The ballot measure would charge a fee of $15 per ton on carbon emissions starting in 2020 and increases $2 a year. The tax would stop in 2035 if the state meets its goals to reduce greenhouse gas emissions.
The measure is expected to raise more than $2 billion in its first five years, with 70 percent of the revenue being invested in building clean energy infrastructure.
Gates said in the post that passing I-1631 would “help Washington become a hub for innovative work on clean energy and climate,” along with fostering “companies and industries that will create tens of thousands of jobs.”
He added passing the measure would also help Washington’s nuclear power and hydropower stay competitive, the state’s biggest sources of clean energy today.
“Going first is never easy, but Washington has a history of pioneering new ideas. And because of all the benefits—shoring up nuclear and hydropower, enhancing the state’s role as a leader in innovation, and most of all accelerating progress on climate-change solutions—I believe it will be worth it,” Gates wrote.
