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by Henry M. Paulson, Jr. and Erskine B. Bowles (Washington Post) … A carbon tax, which taxes carbon dioxide and other greenhouse-gas emissions, is a proven means to raise large sums of much-needed revenue while lowering carbon emissions. It is supported by 67 percent of Americans, embraced by a bipartisan consensus of economists and increasingly supported by the business community. Some critics argue a carbon tax is a political distraction, one that fails to meet the climate challenge and disproportionately
hurts the poor. Others say a carbon tax would damage U.S. competitiveness and break Biden’s promise to not raise taxes on households earning less than $400,000 a year. We believe each of these concerns can be addressed.