A pair of senators have unveiled a comprehensive plan to address climate change in the United States. The legislation by Independent Sen. Bernie Sanders of Vermont and California Democrat Sen. Barbara Boxer aims to reduce greenhouse gas emissions by 80 percent by 2050. Amid other sweeping measures, the bill would impose a fee on greenhouse gas emissions that would help fund investments in renewable energy. It would also provide rebates to consumers to offset potential price hikes by fossil fuel companies. Senators Sanders and Boxer touted the bill at a news conference on Wednesday.

Sen. Bernie Sanders: “A major focus of this legislation is a price on carbon and methane emissions. This fee on the largest fossil fuel polluters affects less than 3,000 entities nationwide but covers 85 percent of the U.S. greenhouse gas emissions, according to the Congressional Research Service. This legislation ends the fossil fuel subsidies and protects communities by requiring that fracking operations comply with the Safe Drinking Water Act and disclose the chemicals they use.”

Sen. Barbara Boxer: “The proceeds will create jobs, many jobs, and the rest of the proceeds will reduce the deficit. So the Sanders-Boxer bill reduces carbon pollution and climate disruption while creating jobs and reducing the deficit. If ever there was a win-win-win, this bill is a win-win-win.”

The largest climate change rally ever is expected in the U.S. Capitol on Sunday.