Today, leading conservative business leaders, statesmen and economists will meet at the White House to advocate a conservative market-based solution to climate change. The plan would repeal the Clean Power Plan and other Obama-era climate regulations in lieu of a gradually increasing carbon tax. The dividends from the carbon tax would return to taxpayers in the form of a rebate.

Former Secretary of State James A. Baker, former Treasury Secretary Henry Paulson, former Secretary of State George Shultz, former CEA Chairman Martin Feldstein, former CEA Chairman Greg Mankiw, former Walmart Chairman Rob Walton, Climate Leadership Council CEO Ted Halstead and Sequoia Capital partner Thomas Stephenson, who coauthored The Conservative Case for Carbon Dividends, will meet with Vice President Mike Pence, White House advisor Jared Kushner, and Ivanka Trump. Baker, who served under late President Ronald Reagan, said he thought his old boss would support the carbon dividend approach, which envisions an initial price of $40/ton on carbon emissions, generating $200-300 billion a year.

Former presidential candidate Mitt Romney took to Twitter to praise the proposal.