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Carbon Tax: What is it and who is calling for the federal government to implement one?
The idea of a federal carbon tax has been thrown around in academic and policy circles for decades. As the Biden administration formulates their climate agenda, pushes for a tax on carbon to be included have grown.
INA FASSBENDER
AFP
increase in the number of severe natural disasters;
from wildfires to hurricanes, droughts, and flooding, seeing images of houses and entire communities destroyed is becoming
normal occurrences.
In 2018, under President Trump, the US government released the National Climate Assessment which stated that “
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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.
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