The Climate Change Superfund Act mandates that companies responsible for the bulk of carbon emissions between 2000 and 2024 pay approximately $3 billion annually for 25 years.
The legislation is intended to reduce the financial burden on taxpayers, who currently bear the cost of cleanup and mitigation after extreme weather disasters.
Experts indicate that the factors contributing to the rise in extreme weather events are closely tied to the increased greenhouse gas emissions resulting from fossil fuel combustion.
Lee Wasserman stated, 'Nothing could be fairer than making climate polluters pay,' emphasizing the law's focus on accountability for companies contributing significantly to greenhouse gas emissions.
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