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2 WHEREAS, the Orange County Board of Commissioners has specifically considered the economic impact on those residents of Orange County who may be most vulnerable to an increase in fuel prices, including both rural residents and low-income residents, and has found that a 2016 economic impact study projects that the legislation would provide a net financial benefit to the majority of rural and low-income households in America, due to the dividend; and WHEREAS, considering these positive projected environmental and economic impacts, the Orange County Board of Commissioners concludes that, in addition to local measures in support of the September 5, 2017 resolution, a market-based, revenue-neutral carbon fee-and- dividend program at the federal level appears to be a fair and effective means to significantly reduce carbon emissions. Now, therefore, be it RESOLVED, that the Orange County Board of Commissioners does hereby approve of the following: SECTION 1. Orange County, North Carolina supports the concept of federal carbon fee- and-dividend legislation that would levy an annually increasing revenue-neutral fee on the carbon in fossil fuels at the point of production and importation, and that would be sufficient to: (i) accelerate the phasing out of fossil fuels and corresponding reduction in U.S. CO2 emissions; (ii) make the transition from fossil fuels less onerous to consumers and to the economy by returning net revenues gained from the fee to Americans on an equitable basis; and (iii) encourage similar actions by other nations trading with the United States, by suitable carbon content-based fees for imports and rebates for exports to nations that have not taken such actions. SECTION 2. This resolution is effective upon adoption and shall be sent to the County’s federal delegation.