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Conservative and progressive policy wonks agree: a carbon tax is the most promising of all tools to fight climate change. Such a tax would spur investments in green energy and encourage motorists to buy more electric cars. It would minimize the role of regulatory bureaucrats and maximize that of markets. What is not to love about a carbon tax? The sticking point is what to do with the billions of dollars of revenues such a tax would generate. Conservatives favor using the money for a revenue-neutral tax swap. Lower taxes on capital would encourage investment, lower payroll taxes would encourage… [more]View Insight
While the Clean Power Plan has attracted a great deal of attention in recent weeks, a number of Congressional initiatives may well be the focus of the fall legislative session. With both the House and Senate considering what would be the first comprehensive energy packages since 2007, energy promises to play a prominent role when the congressional session resumes in September. A few potential initiatives include: Senate Energy and Natural Resource (ENR) Committee: ENR passed the Energy Policy Modernization Act of 2015. The bipartisan bill includes five titles focused on Efficiency, Infrastructure, Supply, Accountability and Conservation. House Energy and Commerce… [more]View Insight
U.S. House of Representatives
Climate change is a threat to our environment and our economy, and we cannot afford the risk of inaction. With our free market economy, the best solution is a simple, transparent tax on carbon that unleashes the power of the market and enables America to lead the way toward a new, clean energy economy. Importantly, a carbon tax produces revenues that can be used to help American businesses and families. But there are many options for how to use these revenues. Critics of carbon taxes frequently cite slower economic growth, increasing taxes on the poor, and hurting coal workers as… [more]View Insight