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“The arguments are so compelling,” he adds. “At this point, a number of companies are assuming that will happen eventually, so they might as well get ready.” “ is designed specifically to appeal to the business community, which has been desperate for some kind of regulatory certainty,” says Justin Gundlach, a fellow at Columbia Law School’s Sabin Center for Climate Change Law. Secretary of State and former ExxonMobil CEO Rex Tillerson endorsed carbon taxes. She called the general idea a “vital piece of the puzzle.” ( Read more about carbon taxes and their use around the world.)Įven fossil fuel companies have thrown their support behind gradually increasing carbon taxes, since they would provide stable, predictable regulatory costs. “It’s hard to imagine reducing emissions enough to limit dangerous climate change without carbon pricing,” said Helen Mountford, program director for the climate initiative New Climate Economy, in a previous interview. The result, according to supporters? An elegant decrease in emissions. The tax would bake fossil fuels’ long-term costs on the climate and public health into the short-term price, pressuring markets toward adopting carbon-efficient energy sources. To limit climate change’s worst effects, economists have long advocated for putting a price on carbon emissions. (The poll, conducted by Yale and George Mason University, has a 5-point margin of error.) More than six in ten of Trump voters support taxing or regulating the pollution that causes global warming. should back away from the Paris Agreement. Just 28 percent of Trump voters think that the U.S. The plan comes on the heels of polling showing that increasing numbers of Americans-including Trump voters- see the value of solving climate change. He Spent 40 Years Alone in the Woods, and Now Scientists Love Him “The Cheaper Approach” And last, but hardly least, it would be good for working-class Americans.” It is pro-competitiveness linked with balanced trade. “If you look at the priorities of President Trump, our plan ticks every one of his boxes,” says Ted Halstead, the group’s founder and CEO. (Legal challenges have stayed the rule’s implementation.) In particular, the plan calls for axing the Clean Power Plan, an Obama-era EPA rule that aimed to slash CO 2 from power plants, which generate 37 percent of the country’s total carbon emissions.

In return for implementing the tax, the plan calls for cutting many current U.S.

exports would then keep U.S.-made goods competitive, the authors claim. Carbon taxes on foreign imports and rebates for U.S. All proceeds-an estimated $200 to $300 billion per year-would be distributed back to American citizens in the form of dividend checks. The Climate Leadership Council’s proposal calls for a $40 tax on each metric ton of carbon dioxide emissions, with the tax steadily increasing on an annual basis. statesmen has outlined a plan that, by 2030, could cut the United States’s carbon emissions by up to two-fifths below 2005 levels.Īt a Wednesday press conference, the newly established “Climate Leadership Council”- a consortium of Republican Party stalwarts including officials from the Reagan and both Bush administrations-unveiled their plan for a gradually increasing, revenue-neutral tax that puts a price on carbon dioxide emissions. In an effort to address the threat of climate change, a group of conservative U.S.