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e. Coastline erosion leading to property damage and IOSS24 Species loss and increased susceptibility to invasive species like the gypsy moth and kudzu29. g. Increased exposure to allergens like Ragweed 30 which exacerbate costly medical conditions like rhinitis and asthma common in the Chicago area, 5. The present costs of fossil fuels are externalized: presently the environmental, health, and social costs of CO2 emissions are not included in prices of fossil fuels, but rather these externalized costs are borne directly and indirectly by all Americans and global citizens; and 6. Co- benefits: the measures proposed in this legislation will benefit the economy, human health, the environment, and national security, even before consideration of global temperatures, by correcting market distortions, reducing non - greenhouse gas pollutants, reducing the outflow of dollars to oil- producing countries, and improving energy security for the United States31 7. Benefits of Carbon Fees: phased -in carbon fees on greenhouse gas emissions are (1) the most efficient, transparent, and enforceable mechanism to drive an effective and fair transition to a domestic energy economy, (2) will stimulate investment in alternative - energy technologies, and (3) will give all businesses powerful incentives to increase their energy efficiency and reduce their carbon footprints in order to remain competitive31 8. Equal monthly per - person dividends: monthly dividends from carbon fees paid equally to every American household will cushion the poor and middle class against rising COStS17,31 -33 stimulate the American economy31,34 and help ensure that families and individuals can afford greenhouse - gas -free energy, Therefore the National Carbon Fee & Dividend Act contains the following elements: Collection of Carbon Fees / Carbon Fee Trust Fund: The Act would impose a carbon fee on all fossil fuels and other greenhouse gases at the point where they first enter the economy. The fee shall be collected by the Treasury Department. The fee on that date shall be $15 /ton CO2- equivalent emissions and result in equal charges for each ton of CO2- equivalent emissions potential in each type of fuel or greenhouse gas. The Department of Energy shall propose and promulgate regulations setting forth CO2- equivalent fees for other greenhouse gases including at a minimum methane, nitrous oxide, sulfur hexafluoride, hydrofluorocarbons, (HFCs), perfluorocarbons, and nitrogen trifluoride. The Treasury shall also collect the fees imposed upon the other greenhouse gases. All fees are to be placed in the Carbon Fees Trust Fund and can be rebated 100% to American households as outlined below. 2. Emissions Reductions Targets: To align U.S. emissions with the physical constraints identified by the Intergovernmental Panel on Climate Change (IPCC) to avoid irreversible climate change, the yearly increase in carbon fees including other greenhouse gases shall be at least $10 per ton of CO2- equivalent each year. Annually, the Department of Energy shall determine whether an increase larger than $10 per ton per year is needed to achieve program goals. Yearly price increases of at least $10 per 2